Question

I need a 3 minutes essay on China's impact on India's industry and employment.

Answer 1

over the past three years China and India have attained spectacular progress in economy What does economic theory tell us as far as the effects of increased integration on economic growth and employment are concerned? In order to answer this question, we need to first specify, what is meant by “integration”? In general, the term refers to liberalisation and openness of an economy in the corridors of market-driven globalisation 
During the past two to three decades, China and India have attained extraordinary levels of economic progress by any standard. During 1980-90, China's and India's GDP grew at an average rate of 10.3 per cent and 5.7 per cent per year, respectively 
 During 2005-07, the average growth rates were even higher at 11.7 per cent for China and 9.6 per cent for India (World Bank, 2009). Although India's GDP growth has been lower than China, it is still remarkable as compared to its so-called 'Hindu growth rate' of 3.6 per cent per year between 1951-52 and 1980-81