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India v. China

Unit 3: The history and role of India & China in the current world economy. India v. China. The integration of the world’s economy. India is the world’s fourth largest economy India’s economy is connected with the leading economies of the world; thus, the world relies upon India for survival.

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India v. China

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  1. Unit 3: The history and role of India & China in the current world economy India v. China

  2. The integration of the world’s economy. India is the world’s fourth largest economy India’s economy is connected with the leading economies of the world; thus, the world relies upon India for survival. Example: Jack in the Box order India Globalization

  3. China has strayed away from key concepts of communism China has embraced parts of a capitalist economy China has given up government ownership of parts of their economy Individual citizens are now capable of starting their own businesses (govt. permission/ incentive) China & Private entreprenuership

  4. India and China are both world leaders in outsourcing. Outsourcing: Contracting out of a business function to further profits Technology and Manufacturing facilities have greatly improved in both India and China. Red Dragon v. Four Lions

  5. India= outsourcing Outsourcing: The contracting out of a business function to reduce costs. Major companies have hired Indian workers for less money than what it would cost to hire workers from the countries native country. How is this possible now and not thirty years ago? Outsourcing

  6. Economic policies have become similar worldwide even if each countries politics have not. China is second only to the U.S. in automobiles. India will be the world leader by 2050 (every sixth car will be sold in India) Cars

  7. China v. India Economy Size

  8. China & India rank #1 & 2 in the world for fastest growing economies China’s economy is twice the size of India’s due to it’s labor intensive manufacturing sector (40%) Since 1990 china has tripled per capita income & moved 300 million out of poverty India has focused on research based jobs for global tech companies. Rapid Growth

  9. Technical and managerial skills are becoming more important in both India and China Cheap labor is becoming less important China will continue to dominate mass manufacturing operations (manufacturing of electronics) India is a leading force in software, design, SERVICES, and the precision industry Type of Labor

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