Compare and contrast trade in India and China over the last 500 years. Illustrate with graphs or tables.
Answers
Comparison of the India China trade over past 500 years is as follow
• The available data shows that over the 515, either China or the United States are ruling world’s economy. But there was an exception in 1700, when India broke the tread.
• In 1500, both China and India were leading world’s economy, by having an estimated GDP's of approximately $100 billion but China was a little ahead of India
• In 1700, India took China’s place
• Again in 1820, China took the lead making India second in the race.
• In 1890, China lagged by 5% of united stated GDP Growth rate, India was ranked third.
• In 1930, china was still struggling with internal issues but managed to be second in the list. United nation still being first
• In 1980, China ranked 10th. India was ranked ninth but united nation maintained the position.
• China’s export rate has increased rapidly while India had a steady but lower rate of trade as compared to China
• China’s trade has been more varied as compared to that of India’s.
• India has been exporting more technological products but it’s still less than that of China’s who is dealing with processing goods
• Processing trade became popular in China while it is still less important in India.
• There was a drastic change by 2010, 2010: China's GDP increased drastically and India was also restored to third position
• The IMF projections in 2015 show China coming back to first-place after at least a 125 year. While India was at third.
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