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Comparing the Economic Growth of China and India: Current Situation, Problems, and Prospects
Abstract
With the rise of emerging economies, the topic of India catching up with China or the so-called dragon—elephant competition has raised increasing concerns in the past 10 years. Viewed from successful economic growth logic and comparison, the two countries have their own experience for reference as well as deficiencies to improve. Rather than being a zero-sum game, the competition between China and India is mutually complementary and win—win cooperative. There is hope that the takeoff of dragon and elephant will contribute to the new landscape of economic development in the 21st century. As members of Brazil, Russia, India, China, and South Africa (BRICS), the peaceful development of China and India will be major events of the 21st century. The two countries should enhance cooperation instead of confrontation. If India does not follow the example of the USA closely to contain China's development, then India can change military expenditure into infrastructure investment to reduce domestic poverty, and can gain more benefits from the cooperation with China.
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