The main difference between the two countries, India and China, is their government types. Both countries have a different government type which is the reason their economies differ. These countries have been competing for a well deserved spot at the top of the global market, and although these two differ in many ways, in the larger picture, both of them grow at an identically fast and efficient rate.
India’s new found tourism industry increases the country’s total revenue. With India’s beautiful location, as compared to other tourist destinations around the world, tourism does wonders for their economic growth. Not to mention their strategic location with regards to one of the world’s largest necessities; oil and food.
Especially in terms of other growing countries, many machines and almost everything today are run on fuel and food, which India has plenty of. The revenue from those exports alone are capable of sustaining the country’s economy as a whole, but at the same time, does not cater much to the average working man. Most oil companies are owned by business tycoons or governments and food is a necessity that does not cost too much to produce.
China’s population and population growth, on the other hand, being very large helps them sustain their economic rise. China uses their proficiency in mass production to attract more investors from other countries. This, however, in essence may cause trouble among China’s people due to the low salary that the average working man would receive; it would be very good, concerning the country’s overall growth in economic stability. Only the government manages everything, and to put things simply, there are just too many people to provide the resources ample enough for every person. China has an insatiableappetitefor luxury goods and has been the first mover into investment diamonds.
With India, they have patterned themselves out of a somewhat democratic outlook, while China is still almost authoritarian in nature. Essentially, the reason why China’s growth has increased so rapidly over the recent years is because of their ability to utilize the resources at hand. Take the issue of roads and infrastructure; with China, since the government is “authoritarian-esque”, this allows for the quick building of structures needed for economic growth.
Without hesitation, China’s government can literally move people out of the way. In the case of India, because of their government, people are allowed to own private property and it would be much harder for the government to pave over the places needed to make the proper roads and infrastructure.
This is merely one example, wherein China and India’s governments differ in relation to their economic growth. On the other side, both China and India are capable, with the resources at hand, to build up their market in a parallel manner. With regards to maintaining economic growth, both countries are equally competent in the field.