Chindia

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For the landmark in Târgovişte, see Chindia Tower. For a person of mixed Chinese and Indian origin, see Chindian.
Chindia

Chindia is a portmanteau word that refers to China and India together in general. The credit of coining the now popular term goes to Indian Member of Parliament Jairam Ramesh. China and India are geographically proximate, are both regarded as growing countries and are both among the fastest growing major economies in the world. Together, they contain over one-third of the world's population (2.5 billion). They have been named as countries with the highest potential for growth in the next 50 years in a BRIC report. BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China.

The economic strengths of these two countries are widely considered complementary - China is perceived to be strong in manufacturing and infrastructure while India is perceived to be strong in services and information technology. China is stronger in hardware while India is stronger in software. China is stronger in physical markets while India is stronger in financial markets. The countries also share certain historical interactions - the spread of Buddhism from India to China and British-European trade on the Silk route are famous examples.

However, there are also geopolitical, cultural, economic and political differences between China and India that some argue would make this term inappropriate. The effects of the Sino-Indian War of 1962 have meant that relations between the countries have been cautious and slow. Politically, China can be characterized as a single party authoritarian state whereas India is a democracy of hundreds of political parties. India's culture can be characterized by a high degree of pluralism[1] whereas China has a more ethnically homogeneous population.[2] The commonly cited complementary nature of China and India's economies is also being questioned as the service sector in China is rapidly growing,[3] while India's manufacturing sector has seen rapid growth in recent years.[4][5] China also has a head start in international marketplaces and is a large investor in Africa.[6] There is also the belief that China has greater geopolitical clout than India as well as a permanent seat on the United Nations Security Council.

Challenges for growth

It is seen at present for both India and China to overcome major and mutual challenges such as regional and societal income disparities, moving up the value chain towards greater innovation, and also environmental degradation for Chindia to prosper and actually take effect in future.[7]

Emerging Asia

China and India are the most populous countries in the world, with more than a billion people each. It is predicted that both countries will continue to see their populations rise until at least the 2030s. At that point, China will begin shrinking, while India's will continue to expand.[7]

China is seen to assert its global leadership. Many countries in the world are now counting on China to lead the recovery from the recent US economic crisis and the 2010 European sovereign debt crisis.[8] China has also shown leadership ambitions through proposing an alternative reserve currency to the US dollar and extending yuan swap lines to several Asian and even non-Asian states.

Citigroup predicts that the economies of China and India will have surpassed that of the United States by 2050.[9]

Innovation, education and business

Today, China and India are producing some of the world's best-trained computer science and electrical engineering graduates.[10]

See also

References

  1. ↑ Baidyanath, Saraswati (2006). "Cultural Pluralism, National Identity and Development". Interface of Cultural Identity Development (1stEdition ed.). New Delhi: Indira Gandhi National Centre for the Arts. xxi+290 pp. ISBN 81-246-0054-6. Retrieved 2007-06-08. 
  2. ↑ "List of ethnic groups in China and their population sizes". Paul and Bernice Noll's Window on the World. 
  3. ↑ "Unlocking China's Services Sector". Australian Government, Department of Foreign Affairs and Trade. 
  4. ↑ "Sensex vaults 384 pts on IIP data, earnings hopes". Sify. 
  5. ↑ "Gaining strength". Business Standard. 
  6. ↑ "China's Rising Role in Africa". Council on Foreign Relations. 
  7. ↑ 7.0 7.1 "'Chindia' future and its fate". Business Monitor Online. 
  8. ↑ "Europe looks to China for possible bailout help from debt crisis". Economic Times. 27 October 2011. 
  9. ↑ Evans-Pritchard, Ambrose (28 February 2011). "'Chindia' rule the world in 2050: Citigroup and HSBC". London: The Telegraph. 
  10. ↑ "The Exponential Power of 'Chindia'". BusinessWeek. 

Further reading

External links

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