...China and India: Opportunities and Challenges Evaluate the Evolving Balance of Economic Power Shift from the West to the East The last two decades there has been a visible shift in economic power from the West to the East. China and India are taking lead in as the economic power posing the weight and dynamism to transform the 21st-century global economy. Though the two have radically different economic strengths and weaknesses the two are expected to deliver a very high growth for decades (Cravens and Piercy, 2010). Since 1979, the two have had a steady and positive GDP curve with China average of 10.92 percent and India India average of 6.01 percent (Trading Economics, 2015). Factors such as outsourcing and education have played an important part in the two countries economic growth. In 2001, outsourcing to China and India have diminished American employment opportunities and cost America 3.2 million jobs (US News. 2014). Competition with low-wage workers from less-developed countries such as China and India has driven down wages for workers in U.S. manufacturing and reduced the wages and bargaining power of similar, non-college-educated workers throughout the economy. The United States graduates roughly 70,000 undergraduate engineers annually, whereas China graduates 600,000 and India 350,000 (Wadhwa, Gereffi, & Ong, 2004). US is concentrating mostly on finance and accounting while the two nations see growing in engineering or life science. According to...
Words: 982 - Pages: 4
...India and China a comparison by Nobel Laureate Mr.Amirtya Sen Modern India is, in many ways, a success. Its claim to be the world's largest democracy is not hollow. Its media is vibrant and free; Indians buy more newspapers every day than any other nation. Since independence in 1947, life expectancy at birth has more than doubled, to 66 years from 32, and per-capita income (adjusted for inflation) has grown fivefold. In recent decades, reforms pushed up the country's once sluggish growth rate to around 8 percent per year, before it fell back a couple of percentage points over the last two years. For years, India's economic growth rate ranked second among the world's large economies, after China, which it has consistently trailed by at least 1 percentage point. The hope that India might overtake Chinaone day in economic growth now seems a distant one. But that comparison is not what should worry Indians most. The far greater gap between India and China is in the provision of essential public services - a failing that depresses living standards and is a persistent drag on growth. Inequality is high in both countries, but China has done far more than India to raise life expectancy, expand general education and secure health care for its people. India has elite schools of varying degrees of excellence for the privileged, but among all Indians 7 or older, nearly one in every five males and one in every three females are illiterate. And most schools are of low quality; less...
Words: 927 - Pages: 4
...2010 India and China: A study in comparison [pic] Neetika Chakraborty Roll number-818 Economics (H) Third Year Acknowledgment I would like to thank my third year teachers- Ms. Nandini Kumar and Mrs. Meeta Kumar for their superior reaching capabilities and constant support. They have always been there to answer every query and help me out with research material whenever I required it. This project would not have been possible without them. This project would also not have been possible without the vast amount of data which was made available through the database of the reserve bank of India and the central bank of the Republic of China. Furthermore, I am indebted to the huge quantity of information available on the internet which was an important part of my initial research. INDEX 1. Introduction 2. Political Evolution ❖ China ❖ India ❖ Drawing a comparison 3. International Trade ❖ China ❖ India ❖ Bilateral trade between India and China 4. Population Trends ❖ Drawing a comparison 5. Conclusion 6. Bibliography Introduction China’s and India’s rapid growth and economic policies, as well as their role in International trade and capital markets, have generated a large amount of interest and research. Much of the attention focuses on their growth prospects and on their faculty to influence global governance. Two salient characteristics of China and India are...
Words: 5871 - Pages: 24
...that no one goes anywhere without their smart phone in their pocket and a GPS in their car. A field that has been completely changed by advances in technology is the medical field. No longer due doctors take ones temperature or blood pressure manually, they have special devices that can give a more accurate reading then a human ever could. Hand held medical scanner technology is showing an astonishing breakthrough and can revolutionize home and hospital medicine just as the home thermometer did. These types of devices have already improved the way care is given in the U.S. greatly and can do the same for countries all over the world. The two countries I chose to enter are ones that have been growing rapidly in almost all aspects, China and India. Handheld medical scanners are a real product being used but are very new and do not have much of a history or a company that solely produces them. So what are they? According to David Freeman in the Huffington Posts article “Star Trek's Tricorder Medical Scanner May Become Reality, Thanks To Nanotechnology Breakthrough,” using nanotechnology, physicists in London and Singapore found a way to make a beam of the "T-rays"--which are now used in full-body airport security scanners--stronger and more directional. The advance, which was described in a recent issue of the journal Nature Photonics, could lead to T-ray scanning devices that are smaller and more portable than existing devices. "T-rays promise to revolutionize medical scanning...
Words: 4090 - Pages: 17
...Growth in China and India Satiya Elam BUS 330 Principles of Marketing Prof. Rebecca Johnston-Gilbert January 14, 2013 In this paper we will explore the growth in China and India and what products and services will interest the new market youth. We will look at the micro and macro-environmental forces that can influence the marketing strategies for these products and services. We will look at whether marketers in these countries will use similar marketing strategies to influence this group or will their strategies be different from Western-based consumption marketers. Then we will take a look to see what opportunities for the U.S companies we might foresee. China and India are two of the world’s largest emerging markets that are growing rapidly. Our text states “As populations grow, so does consumer spending. As the percentage of the population of working age grows, so does economic stability. When a large share of a country's population is in the work force, that country sees income growth and high per-capita savings” (White, 2012). So as these countries grow we will see a significant increase in consumer spending. As these markets become wealthier we will see an increase in personal income growth for consumers which will increase their purchasing power. This can be an increase in food, housing accommodation, cars and energy etc... I think we will also see the younger market leaning towards branding and...
Words: 829 - Pages: 4
...economic stories has been the rise of India and China, two of Jim O’Neill’s “BRIC” countries (FT Magazine, 2010). Despite the implementation of different economic policies (Gupta, 2008) both countries have emerged as major economic forces in the global economy (Bosworth and Collins, 2007), most notably since 1980. Since then, India and China have experienced a significant reduction in poverty with China lifting 500 million out of social deprivation. According to the World Bank (2013), China has had an average GDP of 10% each year while India has seen her GDP double over a similar period. The countries are often compared due to their large population and geographical vastness as well as climbing from third world countries to major economic forces in a relatively short time. However, despite a significant increase in GDP, India has failed to demonstrate the same rates of growth as China. Although both countries were in a similar position during the early nineties, China’s GDP has increased 7 fold since this time; whereas India, although steady, GDP has doubled. The average annual rate is by 10% in China compared to 5-6% in India (see Figure 1). The purpose of this paper is to compare the rates of growth of India and China over the past 30 years and examine possible explanations for this phenomenon. The economies of these countries are underpinned by social, economic and political issues which have all been relevant to their growth. China has placed emphasis on investment...
Words: 2772 - Pages: 12
...Overview China and India provide vast opportunities for trade and investments in all major sectors. In the next few decades, China and India will join the U.S to become the three largest economies in the world. China and India will provide enormous upside potential for U.S. firms, as well as risks. Cultural System Doing business in a particular nation needs a multi-dimensional understanding of its culture and business practices. Understanding those differences and adapting to them is the key factor. India The Indian economy has been booming for the past few years. The country holds great promise for the future. The business culture of India is a reflection of the various norms and standards followed by its’ people. Indians have various cultural yardsticks, which extend to their business culture too. I found the following culture norms to be important: 1. “The ‘Namaste’ forms an important part of Indian etiquette and is generally used while greeting and saying good-bye. This gesture is performed by pressing the palms of both hands together (fingers up).” However, educated Indian men and women, who are acquainted with western customs, prefer shaking hands. Moreover, while greeting any individual use his or her title. To mark respect, you may also add a suffix ‘ji’ to the name of a person. 2. In India, companies follow a hierarchical system and the decision making is usually from the top to bottom. Business decisions could be at times time consuming, and International...
Words: 1286 - Pages: 6
...Introduction : Rise of India and China India and China are the two most populated countries in the world, each with a little over 1 billion people. Both countries have long and ancient history. Both are unique in having an unbroken stream of ancient culture and civilization for centuries before the dawn of the Christian era. Populations of both countries consist of very highly educated and technically skilled work force. In both countries, there is very large middle class, progressively becoming very hungry for vast quantities of consumer goods. However until the 1980s, their economies were among the poorest in the world. India has been the largest democracy since 1947 but heart-rending sights of extreme poverty can be seen even in the flourishing business capitals. There are no subways, very few highways which results in nightmarish tangle of traffic all the time. China has been under the communist rule since the revolution led by Mao Tse Tung in 1966 and still continues to be under the centralized communist rule. Both the countries operated under centralized planning and kept their economies closed to global markets. However, in the past two decades, the world is witnessing a strange miracle taking place in both the countries. In the early 1980s, first China and later, India, started opening their economies to foreign direct investment and began participating more and more in global trade. The world had never witnessed this rare phenomenon of two relatively poor countries...
Words: 16775 - Pages: 68
...A Short Report On EFFICIENCY ENHANCERS SUB INDEX (Comparison between INDIA and CHINA ) Submitted by P.Anila INTRODUCTION The Global Competitiveness Index (GCI) every year report will published by the World Economic Forum. The first report was released in 1979. The 2009-2010 report covers 133 major and emerging economies, down from 134 considered in the 2008-2009 report as Moldova was excluded due to lack of survey data. Switzerland leads the ranking as the most competitive economy in the world, as the United States, which ranked first for several years, fell to fourth place due to the consequences of the financial crisis of 2007–2010 and its macroeconomic instability. China continues its relative rise in the rankings reaching 27th. The report "assesses the ability of countries to provide high levels of prosperity to their citizens. This in turn depends on how productively a country uses available resources. Therefore, the Global Competitiveness Index measures the set of institutions, policies, and factors that set the sustainable current and medium-term levels of economic prosperity. The WEF defines competitiveness as the set of institutions, policies, and factors that determine the level of productivity of a country. More competitive economies tend to be able to produce higher level of income for their citizens. Global Competitiveness shows the ability of a country...
Words: 1481 - Pages: 6
...there is a big potential as well to develop and strengthen the ties between the two. There is no doubt that India and China are both strongest countries in Asia in terms of Economy. Moreover both of them are developing at a rapid pace. The rest of the world has started to take these two countries seriously and the day might come when they will be the ones to drive the world. Even the economy is growing rapidly and with consistency. Both of them today are world’s fastest growing nations. In recent years, India and China are constantly on fourth and second leading economies respectively. They have left back other huge economies like few European countries and also countries like Japan, Russia, etc. The other fact is that both of them are world’s most populous countries, so it might be the case that in terms of per capita income they are at lower rank, but in terms of total GDP, they are constantly on the leading positions. These two countries are responsible for a big part of world’s total GDP. If we look at India, there is a huge number of people living below poverty line and also the basic needs are not available for the whole population, it is surprising that it still occupies its place in the world’s top five economies. It is the same case with China where excluding the big cities; most of the population suffers from poverty. The infrastructure is better than that of India but the problem of sufficient basic needs supply still lies beneath. Nevertheless, when it comes to the diplomatic...
Words: 477 - Pages: 2
...China and India during the medieval era. Susana Gutierrez His/276 April 30, 2014 John Randall. China and India during the medieval era Most of the tribes of Eurasia were nomads with no real laws or a set place to live the simple move from place to place once they run out of resources for them and their herds of animals which was their livelihood. The nomadic lifestyle these tribes had made it difficult to avoid conflict with other tribal communities the way they manage their social and political laws was through family name, clans and tribal confederation. In their search for greener pastures sometimes they would fight for the same resources. The community that lost would move far away or make allies with another tribes to be stronger against all other to avoid extinction or slavery. The way they acquire goods was trading with other communities when they could not get it, they would use force and violence raids were a common against other nomad groups, but farms were not spare either. The farmers were no contest for the nomads such as the Xiongnu. One of the reasons China built the great wall. The Turks frequently exploited China and fought often amongst themselves. In history of Sui Dynasty tells us how the Turks rather fight each other than to live peacefully amongst each other, but the Turks run into the Tang Dynasty in china and disappear shortly after. In the 8th century the Vighors decided to create a new society in Mongolia and...
Words: 1415 - Pages: 6
...Edward Funke Gunesekara Economics and Change/EG XX March 2012 China vs. India Although no two dictionaries agree on the definition of democracy, for our purposes, modern democracy can be defined as “government by the people in which the supreme power is vested in the people and exercised directly by them or by their elected agents under a free electoral system" (Cincotta 2) In the phrase of Abraham Lincoln, democracy is a government "of the people, by the people, and for the people." However, even if freedom, defined as individual rights, is guaranteed, democracy does not necessarily lead to freedom. This can be seen by examining the “democracies” of India and China. The Indian Constitution offers all the Indian citizens, individually and collectively, these basic freedoms and rights. They are guaranteed in the Constitution in the form of six broad categories of Fundamental Rights and are justifiable. It means that each and every Indian citizen has the right to Constitutional remedies for the enforcement of these rights. There is a free, independent and separate judiciary to see that these rights are not violated and tampered with. All are equal before law, right from the Prime Minister to a peon. This is the very spirit and essence of our democracy. An independent, strong and incorruptible judiciary is one of the main pillars of democracy. According to Henry S, Rowen, China is “a Leninist state in which the Communist Party has combined economic...
Words: 331 - Pages: 2
...Drawbacks and Benefits of Electronic Medical Records Mia M. Carter AIU Online International September 7, 2013 Abstract This paper will discuss the advantages and disadvantages of using electronic medical record systems for the patients /clients and the providers. Since 2009 the Stimulus package was signed into law, which it represents one of the largest American initiatives to this date that is supposed to encourage a large widespread use of EMRs., (Nir Menachemi & Taleah Collum, 2011). Drawbacks and Benefits of Electronic Medical Records This paper will discuss the advantages and disadvantages of using electronic medical record systems for the patients /clients and the providers. Since 2009 the Stimulus package was signed into law, which it represents one of the largest American initiatives to this date that is supposed to encourage a large widespread use of EMRs, (Nir Menachemi & Taleah Collum, 2011). Electronic Medical Records gives ways on various aspects of clients and patient’s care that is prescribed. This sort of storing information on medical history and health related information is being stored in digital format other than on traditional paper, (Henry Schein, 2013). Some ways provider’s benefits from electronic medical record system are evaluation and immediate retrieval at the provider’s and other qualified staff fingertips, (Henry Schein, 2013). Some other benefits for providers and other medically approved staff are operating and financial...
Words: 621 - Pages: 3
...1.0 Introduction 1.1 Purpose The purpose of this cost management plan is to define the methodology by which costs associated with the Building Expansion Project will be managed. This is necessary to ensure the successful completion of the project within the allotted budget constraints. There are several cost components associated with this project as well as many metrics, cost variance considerations, and reporting which this plan will outline. To complete this project successfully, all key project members and stakeholders must adhere to and work within this cost management plan and the overall project plan it supports. The Project Manager will be responsible for managing and reporting on the project’s cost throughout the duration of the project. During the monthly project status meeting, the Project Manager will meet with management to present and review the project’s cost performance for the preceding month. Performance will be measured using earned value. The Project Manager is responsible for accounting for cost deviations and presenting the Project Sponsor with options for getting the project back on budget. The Project Sponsor has the authority to make changes to the project to bring it back within budget. 1.2 Scope This section describes what will be included in the cost management plan for this particular project. Project costs may consist of many internal and external components or unique items depending on the nature of the project. It is important to define...
Words: 1666 - Pages: 7
...Petroleum and Petrochemical Bulletin |U.S. Application of API MPMS Chapter 11.3.3 |Bulletin 012-TBN | |Ethanol Density and Volume Correction Factors |Rev. 0 | In late 2011, API MPMS Chapter 11.3.3, Miscellaneous Hydrocarbon Product Properties – Ethanol Density and Volume Correction Factors was published. The standard includes implementation procedures for both pure and denatured ethanol. For volume or density correction from observed temperature to 60 °F, the implementation procedure given in API MPMS Ch. 11.1-2004 shall be used. Pure and Denatured fuel grade ethanol’s are considered “special applications” (formerly known as Table 6C or Table 54C) with an alpha coefficient of 0.000599/°F or 0.001078/°C for Pure Ethanol and 0.000603/°F or 0.001085/°C for Denatured Ethanol. The standard also notes “However, if occasional table differences of 0.001% (1 in 100, 000 volume units) are acceptable to all parties, commodity group Refined Products (formerly known as Table 6B) with an API gravity of 50.47 (pure) and 50.61 (denatured) may be used in lieu of the 6C table”. For this alternate Table 6B use the API must be entered, calculated and reported to (2) decimal places which makes this method impractical and as such is not recommended by IFIA member companies. Unlike the revised Temperature and Pressure Volume...
Words: 519 - Pages: 3
