• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month


Extracts from this document...


INDIA AND CHINA CHINA: * Historical: ==> Their economic development started with the 'Great Leap Forward' economic campaign started in 1958. People were encouraged to start industries on a massive scale. In the commune system, people collectively owned the lands. ==> 'GLF' campaign met with problems --> severe drought, 30 million deaths, and conflicts with Russia (hindered industrialization). ==> In 1965- Mao Ze Dong started the 'Great Proletarian Cultural Revolution'. Professionals and students were sent to the countryside to learn and work. ==> Present day economic growth in China can be traced back to the reforms that were introduced in 1978. ==> Initially, reforms were introduced in agriculture, foreign trade and investment. ==> In agriculture, for instance, commune lands were divided into small plots and allocated to individual houses. Income could be kept after paying taxes. ==> In the later phase, reforms were introduced in the industrial sector. Private sector firms were allowed to produce goods and the state owned enterprises (SOE's), which in India are called Public Sector Enterprises (PSE's), were made to face competition. ==> In order to attract foreign investors, Special economic Zones (SEZ's) ...read more.


However, this measure has also led to a decline in sex ratio. The sex ratio though, is low and biased against females in both India and China. ==> The fertility rate is low in China and higher in India. ==> Urbanization is high in China and low in India. (28% live in urban areas in India.) ==> However, the problem with use in the HDI is that we need to include 'liberty indicators', like the extent of constitutional protection given to the rights of citizens, independence of judiciary and the rule of law. In China, lack of political freedom and its implications for human rights are major concerns. ==> In the last three decades, China has used the market system, without losing political commitment and succeeded in raising the level of growth, along with alleviation of poverty. INDIA: * Indian Economy at the eve of independence: ==> Stagnant Agriculture- zamindari system; ==> Low level of technology-lack of irrigation facilities, negligible use of fertilizers; ==> Partition-sizeable proportions of fertile lands went to Pakistan; ==> Low industrial growth-India was just an exporter of raw materials. Modern industries in India started only in the second half of the 19th century, but were confined to only cotton and jute. ...read more.


==> The arrival of MNC's has increased competition for domestic manufacturers, who have been forced to shut down. * Infrastructure: ==> Power Supply: Commercial energy makes up 65% of the total energy consumed in India. Inadequate reserves of petroleum. ==> Electricity: Between 2000 and 2012, India needs to add 1 lac megawatts of new capacity, to sustain an annual growth of 7%. However, we have only been able to add 20000 megawatts. There is general public unrest due to high tariffs and prolonged power cuts. Production and Distribution of energy is still under the public sector. ==> Health: Expenditure on the health sector is 5% of the GDP, which is abysmally low. India has 17% of the world's population, but bears a frightening 20% of the global burden of diseases (GBD). Inadequate medical infrastructure in rural areas. 0.36 hospital for every 1 lac people in rural areas, while there are 3.6 hospitals for every 1 lac people in urban areas. The primary health centers in rural areas do not even have basic facilities like X Rays or blood testing facilities. Poorest 20% spend 12% of their income on health care, while the rich spend only 2%, since government hospitals do not have sufficient facilities, the poorer are driven to private hospitals. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Economics essays

  1. The role of MNC headquarter

    local customers, governments and regulatory agencies for its ongoing institutional legitimacy and economic success1. Every single subsidiary must be aware of the local environment, and react to changes. Global responsibility There is on the other hand, also a need for a global responsibility, as the main purpose of globalization is acting across borders.

  2. Fair Trade

    Furthermore there are long distance cruisers that take tourists along the Malaysian coast, stopping at the popular beach resort towns and dive hot spots. Although waterways are perhaps not the most common mode of transport, it is becoming increasingly demanding as the increase in tourism throughout the country is forcing

  1. Luxury Marques Look to India

    A bus plant and a joint venture plant with Fiat to produce 100,000 cars and 200,000 powertrains were also under construction. In the last 10-15 years, India has propelled itself by strengthening its economy after the implementation of economic reform in 1991.

  2. Effects of Liberalization

    When the tariffs and non-tariff barriers are removed, resources are produced with no restrictions, making it easier for countries to specialize. The countries now also don't have to worry about costs, as they can trade freely. Therefore as more specialization occurs, it is easier for comparative advantage takes place.

  1. What has happened to Canada's demographic over the past 50 years? What are ...

    shows the number of people aged 45-64 as a percentage of the people aged 15-64 in the labour market. During the 1980s and 1990s, the percentage begins to rise drastically as the children of the baby boomers reach the age of 45 or more, thus allowing them to be put in that category.

  2. Role of ICT for "Make in India" government initiative.

    Cost effectiveness is the important factor that drives more Indian companies to enter and utilize Cloud-based applications. Digital data in India is expected to be approximately 40,000 petabytes in 2010 and this would raise up to 2.3 million petabytes in 2020.

  1. 15 Historical Economic Questions on Mercatilism and the Development of European Countries.

    taking complete economic control of a nation and manipulating it solely towards their benefit. These times consisted of letters patent and government-imposed monopolies, which had support of many mercantilists. The market manipulation strategies of quotas and price-ceilings inevitably resulted in the creation of black markets.

  2. Economics Commentary - the article is about the rising tariffs in the trade ...

    the World Trade Organization in order to reduce the tariffs on more than $3 billion worth of automobiles and get back the gains from free trade. Definition- International trade - The buying and selling of goods and services which across international boundaries.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work