ECONOMIC COMPARISION OF INDIA & CHINA WITH SPECIAL REFERENCE TO GLOBAL RECESSION

Abstract

It is not a surprise; and it has to happen one day when the worlds largest economy is facing the crisis, it is quite normal that the countries dependent on the same will face such kind of impact on their economies too. The crisis signals are thee for everybody to watch. Rather, it would have been a surprise when these two developing countries, India and China, which had shown a terrific growth for the past few years, have tried to avoid the slowdown in the growth rate of their respective economies by taking exceptional measures, which can fuel demand, and escaped the scathe of the financial crisis. India and China are the most populous countries in this world. Together, they hold 37% of worlds population. Being a populous country, is a kind of both boon and curse to these developing economies. The boon comes in the form of huge demand this population number can generate, which is equal to the demand of a combination of minimum 3 to 4 developed countries.