ECONOMICS:

An economy consists of the economic system of a country or other area, the labor, capital and land resources, and the economic agents that socially participate in the production, exchange, distribution, and consumption of goods and services of that area. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

TYPES OF ECONOMIC SYSTEM:

SOCIALISTIC SYSTEM CAPITALISTIC SYSTEM MIXED SYSTEM

FEATURES:

MIXED ECONOMY DUALISTIC ECONOMY

OPEN ECONOMY
AGRARIAN ECONOMY DEVELOPING ECONOMY

POSITION:

11th IN TERMS OF GDP 5th IN ENERGY PRODUCTION 3rd IN ARMED FORCES 1st TEA EXPORT

STRENGTH:

RICH IN NATURAL RESOURCES RICH IN HUMAN RESOURCE

GROWING EDUCATION SYSTEM

CONSISTENT GROWTH IN TOURISM DOMESTIC MARKET GROWTH

WEAKNESS:

TECHNOLOGICAL BACKWARDNESS OVER POPULATION CURRUPTION POVERTY UNEMPLOYMENT UNEQUAL DISTRBUTION LOW PER CAPITA INCOME

FEATURES:

OPEN ECONOMY COMUNIST ECONOMY REASONABLY STRUCTURED ECONOMY DICTATORSHIP

POSITION:

3rd IN TERMS OF GDP 2nd IN TERMS OF ENERGY PRODUCTION 1st IN TERMS OF ARMED FORCES 2nd IN TERMS OF TEA EXPORT

STRENGTH:

RICH HUMAN RESOURCE GOOD TECHNOLOGY GOOD ECONOMIC SYSTEM INTERNATIONAL MARKET GROWTH

WEAKNESS:

OVER POPULATION LOW QUALITY PIRACY BAD INTERNATIONAL IMAGE

PAST RELATIONSHIP BETWEEN INDIA & CHINA

SILK ROAD TRADE RELATIONS IN 1950s. CHINA IS INDIAs LARGEST TRADING PARTNER CHINA ALSO HELPS IN GETTING ASEAT IN UNSC. CHINA IS THE MAIN BUYER OF INDIAN IRON CORE

COMPARISON BETWEEN INDIA AND CHINA:REPUBLIC OF CHINA AREA POPULATION POPULATION DENSITY REPUBLIC OF INDIA

9639688 km.km 3287240km.km 134072000 140/km.km 119042000 358/km.km

COMPARISON CONT.
GDP(NOMINAL) $5.365 TRILLION GDP(PPP) $9..712 TRILLION $1.367 TRILLION $3.862 TRILLON $1124 $3176

GDP(NOMINAL) $4000 PER CAPITA GDP(PPP) PER CAPITA $7240

CONT.
HUMAN .772 DEVELOPMENT INDEX .612

FOREGIN EXCHANGE RESERVES

2400000(million 587000(millions s of USD) of USD)

$36 BILLION

MILITARY $98 BILLION EXPENDITURES

CONCLUSION:

From various available data it has found that crossing Chinese economy is not a easy task it can be achieve only by hardworking and improving educational sector