China and India are growing fast economically and technologically. They both have a strong and cheap workforce which makes their businesses grow in huge amounts. The business owners benefit more than the workers though. Now that both countries are trying to merge through business, what do you think is the future of the Asian Market?
I can only see it going up from here. America or to be honest the American people have still not caught on to the fact that Asia is killing us by the constant purchasing of overseas goods. The more the American people buy from overseas, the worse our economy gets. More factories are closing and there is no end to it as long as the public turns a blind eye to it.
I would be inclined to say India. They are not that developed yet, they are still experiencing really fast population growth. So with more people, more developing (such as the new initiative to create bank accounts for everyone) and technological advancement, I think they have a very good chance of being the next big economical superpower.
It's been called the Asian century for a good reason. Both offer something that the other would like - India has the technological know-how, benefits of an English-based education system; China has (relatively) better infrastructure, less bureaucracy and is still the factory of the world. India's big problem is it's layers of bureaucracy and organized chaos; China is still more of an adopter and copier rather than an innovator. At the moment there's more consistency in the China message because for good or for ill that's what a one-party political system allows. India's political picture tends to veer from a drama to a crisis.
It's good that you mention that, because many Indians have told me "the education system is the only good thing we got from being a British colony."
America spends way too much money on oversea stock and is consistently in a crippling dept to other countries. I think China is the biggest player in this game. They have such a large economy and such low pay wages that they make up for it. I've never heard of India in being a player in this but I can see it happening in the next 10 - 15 years. Japan's economy hasn't been that great either. They yen to dollar ratio has been great all this year. I think currently it's about 119.20 ($1.19) to the American dollar. Compared to three years ago when the yen was at 73 (71 cents) to the American dollar. It's either our economy is getting better (which I doubt) or Japan's economy is just suffering right now. One major reason could be because the 2011 Tsunami in Fukushima.
This! They are very different countries. One big thing is that India is english-speaking which gives them a huge leg up in tech areas. But on the other hand, India has a slow democracy while China has a one-party gov´t without competition.. they can react faster to manufacturing and world changes. Manufactoring = china Service/tech = India
You're being a bit kind calling India's problem "organized" chaos. Their mantra is "do first, plan for/organize it later."
Despite Japan's flat GDP growth, it's leagues ahead of China and India. Like 3.5x per capita income of China 7x that of India. China would like to see the Yuan from appreciating any more, but it and workers wages are appreciating so much so that some out-sourcers are considering Mexico again. But there within, lies a whole other set of issues.
