Future Economic Situation of China and India. A Comparison

Bachelor Thesis from the year 2020 in the subject Economics - International Economic Relations, grade: 1,8, University of applied sciences, Munich, language: English, abstract: The aim of this thesis is to compare the Indian future economic situation with China's future economic situation. In order to get an outlook for China and India, the past and the changes now must be considered. Until recently, India and China stood for poverty and backwardness. Among the leading economically strong countries in Asia were Japan, then Hong Kong, Singapore, Taiwan and South Korea. Within a very short time, this has changed radically: For just 20 years China and 10 years India have both been among the world's high growth regions and investment magnets. If we look at the current situation in the world, China is one of the leading countries when it comes to exports and is also technologically ahead of many countries. On the other hand, India is a country that is just starting to grow economically. India is seen as one of the BRIC countries along with Brazil, Russia, and China as a new economic power to help the world economy out of the crisis. Due to the current outbreak of the coronavirus, China is experiencing many negative effects. Not only because of the number of ill and dead people in China, but also on an economic level. This leads to the collapse of the economy in China. To what extent will Chinese trade with the world be affected and can Chinas economy recover before that or will India overtake China economically and become wealthier?