China
and India both are the two fastest growing major economies of the world but
China precedes India by a great margin as far as Economic growth and
development is concerned. The exceptional accomplishments by both the economies
of China and India brought a new balance of power and capability in the world
economy. China and India are extremely antediluvian civilizations and the
economies of these countries are affected by the various factors such as
economic, political, social, geographic, etc.
Chinese
economy Vs Indian economy
China
is the Second largest economy in the world, with growth rates averaging 10% for
the last 30 years whereas India is the Eleventh largest economy with the
overall growth rate averaging 6.5%. GDP of China and India are expected to
evolve rapidly over the period of time. It is believed that China will emerge
as too big economy and India will have better investor returns as compared to
China. India cataloged the highest growth rates in mid 2000s.
The
world economy which is dominated by mighty USA would be ruled by China.
According to Economists, In 2018 China will transcend USA to become world’s
largest economy. There are various factors which developed China into a better
economy as compared to India. As India was underneath the dominance of British
for the period of 190 years which depleted the resources of the country to the
large amount and the country suffered a prolonged economic loss. But China
never faced any sort of colonization due to that China relished well planned
economic pattern which made China more powerful. The growth in GDP brought
lighting increase in the manufacturing sectors in the country which resulted in
production of high tech goods on huge extent. This benefited manufacturing
firms such as Lenovo, Huawei Technologies, etc. As per survey report, growth
rate of China and India roused due to contribution of institutional investors
in their respective economies.
Population
The
population of China is more than 1.3 billion making it the world’s most
populated country whereas India is the second largest populated country in the
world with 1.2 billion people. The population of India is advancing quickly and
is expected to surpass China in 2030. Although the geographic land of India is
one third of China. Population of India is growing at an annual rate of 1.3% as
correlated to China’s 0.5 %.
Infrastructure
China
has very well developed and advanced infrastructure as compared to India. The
major aspects that made an absolute distinctness between China and India are
manpower and labor development, water management, health care facilities and
services, communication, civic amenities, etc. These features are well
established and have a definite outcome on its economy, whereas India is a
developing country and still faces difficulty and trouble of poverty,
unemployment, lack of civic amenities, etc.
Agriculture
Agriculture
Sector is also a major factor of economic comparison between India and China.
It configures a major economic sector for both the Asian Giants. However, the
agricultural sector of China is much balanced and established as compared to
that of India. In India, many farmers are still using the very old and
traditional techniques for cultivation whereas the techniques followed by China
are very much developed and advanced. Utilization of advanced and new
technology resulted in better quality of crops.
Technology
Development
in Science and Technology also plays an important role in development of
economy. Both these countries are quickly improving and advancing their
technologies. There have been tremendous advancement and development of
technology for the countries over the period of time. China is market leader in
hardware technology, whereas India is champion in software sector.
Politics
As
far as the politics is concerned, the political system of China is communist
which is favorable and effective to economic growth and development but lack of
freedom of expression and freedom of speech, everything is censored, human
rights have less values, whereas the
political system of India is democratic,but delays the economic growth and
development of the country, but has more freedom of thoughts and expressions, since its largest democracy.
Investment
The
rate of investment in China was in between 35% and 44% for the last 25 years,
whereas the rate of investment in India was in between 20% and 26%. The
investment on infrastructure in India was averaged to 2% whereas in China it
was 19% of GDP.
Military
Strength
China
has over 22.55 lakh military squad and 9000 aircrafts with 2000 fighter planes
whereas India has 13.25 lakh military squad and 3000 aircrafts with 790 fighter
planes. Indian Army has 10,340 land based weapons, 3,898 tanks, 4175 towed
artillery. China Army has 31,300 land based weapons, 8,200 tanks, 14,000 towed
artillery. Indian Navy is the Eighth largest navy in the world with fleets of
145 vessels including missile capable warships, advanced submarines, new naval
aircrafts and aircraft carriers. Indian Navy is experienced and well trained in
combat as well as rescue operations. On the other hand, China’s Navy has fleet
of 284 vessels is numerically excessive than Indian Navy, but lacks war
experience. In terms of nuclear power, China is much advanced that of India’s
nuclear forces with 200-400 active nuclear warheads whereas India’s nuclear
force is believed to have about 50-70 nuclear warheads.
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