Once upon a time in far-far West we had the US and the UK, the promising and most thriving economies, and on the other side of the globe was Japan playing fist fights with them single-handedly. Then came the God of Economic Destruction and set the world on ‘Stock Fire’.
But, two countries saw the opportunity and came to the front, fought off the fire and took control of their region. Yes, these countries were China and India, two of the most unlikely nations to hold a strong position in the economic world for a number of reasons.
Though China had set its foot in the ground firm way before the 2008 financial and economic crisis but the post-2008 era was promising to them. Japan might not have seen the pits but a series of natural catastrophes halted their progress and aggravated the already aching economy.
China was considered the most unlikely fellow to progress in the international market, mainly for the reason that it runs on nationalist mode of economic system. But that has changed a lot and now it has become ‘Almost the Capitalist’ country. There are privately held companies in China, though Government owns majority stake in most of them, but private enterprises, nonetheless. Moreover, the country has indulged itself into stock trading; Beijing Stock Exchange is an example.
In its south is India, which has been in the fast lane since the late 90s. The country for its poor overall living conditions and typical bureaucratic system was never held an option for major investments. It is still the second most populated country in the world, which is destined to change by 2030 when it de-chairs China in the first place.
However, hats off to Hindustan for capitalizing on the factor that was touted the most dangerous. Over a billion heads counted in the country are all soon to become the citizens of one of the most promising economies in the world. At least in Asia, India is considered the most developed economy after China.