The shift of the economic power is undeniable. For several years already we observe the growth of China and India’s economics, which proves that East replaced West in this sphere. These countries produce better educational output in the comparison to the United States. For instance, about 60,000 students who studied engineering graduate in America every year while this number is more than eight times larger in China and India (Agarwal 512). Still, the scientific output of America is considered to be the highest one. The countries pay a lot of attention to the researches in various fields. More than 130 billion dollars were spent by China in 2007 to enhance research and development (Bhattacharya par. 4).
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Thus, the specialists have an opportunity to deepen their knowledge and often become even more skillful than their co-workers from the United States. They innovate in their spheres and deal with new software tools and other technologies proficiently. The labor costs in America are much higher than in these countries that is why their employment rate increased. Many multinational organizations occur in the West and search for the employees from the East. Thus, with the course of time they can displace American workers. Moreover, companies in the United States prefer to gain more than to hire new personnel; they use digital technologies to deal with the routine work.
China and India are thought to change the global economy of the 21st century. Due to their economic growth, the countries are even compared to the United States of the 19th century. At that time, they gained the world’s leadership with the workforce of the younger generations in agriculture, technologies, and other spheres. A similar situation is now seen in China and India. Their youth gains high savings and a range of thing they are to do to proceed enhancing economics (Cravens and Piercy 497). The understanding that the countries can become the world’s leaders in few years motivates the younger generations and makes them try harder and work as much as possible to achieve success in various spheres.
China and India are going to continue working together to fill the gaps they have and enhance their perspectives (Sidhu and Yuan 171). For several years already were growing at about 7% and continues doing this now. Today industrialized nations benefit on the basis of international trade, but soon they will become competitors. The countries of the West are likely to get dissatisfied with the China and India’s opportunity to excel them. Thus, this development will put their attitude to global and open trade to a test.
Even though China and India achieved huge educational success, they have a lot of issues to overcome as they prevent further development. The countries are also expected to maintain a particular percent of growth every year; as it is not achieved, the process slows. For now the increased population helps to enhance the workforce as it reduces the unemployment rate. However, it is likely to deteriorate environmental and social conditions. Rapid industrial development has an adverse effect on environment, which proves that the impurity of air, water and soil becomes undeniable and threatens people’s lives (“The Economic Balance of Power Shifts from West to East” 23).
There are many protests over corruption and working conditions in China, which bring political backlash. Moreover, the country still feels the influence of the financial crisis that took place several years ago. China and India have problems with the health care delivery because of the population size and communication of life-threatening diseases. In addition, the repetitive wars between India and Pakistan make citizens worry about their future. The benefits of the independence of Taiwan were always questioned, as it is likely to bring a war to the country. In case of armed hostilities in the Taiwan Strait, the United States, and Japan are likely to get involved (Lal 93). They are thought to prevent shipping and interfere in trade.
The economic growth of China and India shows that soon their power is likely to excel other industrialized nations. Due to the educational outputs the unemployment rates reduced and many skilled specialists start working in various spheres. As their labor is cheap, a lot of organizations give preference to the workers from the East. They conduct researchers and provide innovations. The youth is motivated to continue working on the countries’ development, and if they reach the goals, China and India will become the world’s leaders at least in agriculture and technologies.
This rapid growth is compared to the one that happened in the 19th century in the United States and is even predicted to outdo it. However, on their way to success China and India face a range of difficulties that slow this process. The increased population is hard to control; thus in some cities occur protests. The governments fail to provide the citizens with needed health care, and mortality rate increases. As the industries develop, they pollute the environment, which affects people and nature. Thus, China and India still need to overcome many issues to become equal to the West and leave it behind.
Agarwal, Pawan. A Half-Century of Indian Higher Education, Thousand Oaks: SAGE Publications, 2012. Print.
Bhattacharya, Arindam. China and India: New Innovation and Talent Forces. 2008. Web.
Cravens, David, and Nigel Piercy. Strategic Marketing, New York: McGraw-Hill, 2012. Print.
Lal, Rollie. Understanding China and India, Westport: Greenwood Publishing Group, 2006. Print.
Sidhu, Waheguru, and Jing Yuan. China and India: Cooperation or Conflict? Boulder: Lynne Rienner Publishers, 2003. Print.
The Economic Balance of Power Shifts from West to East 2011. Web.