India and China tomorrow's economic giants

Abstract

The economies of China and India have been the attention of the world for sometime now, being the most populous countries in the world and experiencing high growth rates of national output. The main aspects of this study are 1. The reasons for the high growth rates of Chinese and Indian economies while the other developing countries and developed countries are experiencing low-moderate growth. 2. Even though India was ahead of China till 1970s, the aspects of Chinese policy that contributed to China pulling ahead of India over the past 25 years. 3. The difference between the top-down approach adopted by China and the bottom-up approach of India 4. The threats that both the economies face in terms of high unemployment, political instability etc which could derail the high growth projections. 5. Drawing from the learnings, what approach India and China should adopt to sustain their high growth performance.