Chindia is a trading block between India and China. This trading block has hitherto been used by the two countries as a market where they exchange their different types of products and services. India is a country with the worlds’ history of having the highest number of programmers while China boasts of sophisticated use of technology in production. The two countries have the advantage of a good market supported by an ever-rising population. (Mohan 2009)
We will write a custom Critical Writing on Prospects for Chindia After 2008 Global Financial Crisis specifically for you
807 certified writers online
China and India are regarded as the emerging economic powerhouse in the Asian continent. With the growing business demand in the Middle East countries, Chindia is strategically placed to unleash its potential. According to the Australian business press, the recent economic growth achieved was a result of the relationship between itself and the two countries i.e. China and India (Mohan, 2009).
Chindia has been, on a steady growth despite the 2008 global financial crisis that hit on most doors of big economies this can be explained by:
Middle and long-term development plans every five years. These plans are flexible and can be changed according to the development phases. A country that sets its development goals over time and reviews them to determine whether they are still effective or not will ever prosper. This acts as a mechanism for change if a plan is perceived to be subjective or obsolete it’s corrected immediately (Mohan, 2009).
Implementing and opening external relationships with the outside world Businesses that want to seek international market opportunities should first remove the trade barrier by opening up to work with outsiders. This will pave way for future productivity. A productive nation is ever prosperous. China and India have outstanding commercial links with so many countries in the world from where they can exchange potential products. China and India have relevant experiences gained through deepening their reforms and opening up by solving complicated regional cases; this has enabled them to solve the domestic as well as foreign cases to maximize their economic gains (Mohan, 2009).
China believes in a theory that coordinated policies in market-oriented forms are strategic. It solves the problem of inequality in different societies. This has ensured that the gap between the rich and the poor keeps on shrinking to the lowest level. In poor countries, the most obvious thing is that the few who are rich are extremely rich while the poor sink into the mire of hopelessness (Mohan, 2009).
With highly sophisticated and competitive domestic manufacturing markets India and china remain far superior economically in the Asian continent. This explains the reason why the two economies have managed to survive the global economic crisis now and will still continue to display a positive performance trend. However, China experienced a hitch on its international markets especially in the industry of toys and electronics. The international demand for these products fell by a certain percentage as global consumers were hit by the downturn (Mohan, 2009).
List of references
Mohan, R 2009, Collective Intelligence Network.