What factors occurred that changed the growth n China and India in 2009-2013?
Many believe that the economies of both India and China will have a significant impact on the global economy over the next few decades because of their rapid growth over the past few decades. Despite the importance of these countries, their strengths and weaknesses, the sources of their development, and the missing ingredients to sustain high growth rates—are unknown. It was thus necessary to provide a context for understanding the current state of India and China's economies and how they will change in the future in the "India and China in the Global Economy" session.
Even though India and China's growth has been impressive, it has also been uneven; as the panellists, who STEP board member David Morgenthaler moderated, pointed out during the discussion, some economic sectors have developed more rapidly than others. To fully grasp the innovative capacities of the two countries, it is necessary to examine which areas have improved and which remain stagnant. It is a mistake to assume that the two countries' growth is fundamentally similar, the speakers agreed. It's important to note that India and China's economic development patterns are very different. This has a significant impact on both economic forecasts and strategies for dealing with the two countries.
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