China and India will be the major players in the global economic system in 10 years time.Discuss.

Essay by ZionGirllCollege, UndergraduateB+, February 2008

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In the recent era a very emerging dilemma that has become a burning issue is the economy growth in countries such as China and India. Moreover, China's and India's resources system will have influenced on developed countries which have already relied on their own economy by producing goods and services. However, this essay will discuss the main aspects which will lead China and India to be the major players in the future of the global economy.

The demographic levels of India and China are very high. China with a population of 1,321,851,888 has great potential to convey its product and view its ability to European countries. The goods produced in China may not have the same quality as the European countries. But, in relation to several reasons such as, the average wages of the labour in China is much cheaper than what it is in European. Also, some domestic systems, which make China to be considered as the second-largest market for, and the largest exporter of, electronics, information and communication technology products.

(Shahid Yusuf et al. 2007)China has become a common destination for powerful economic countries such as United Kingdom, Germany, USA because of its cheap labour which will lead to a significant economical growth. However according to a summary published in 2005 by European Chamber "while the internationalisation of Chinese enterprises is a welcome trend, European companies in various sectors are finding it difficult to compete on a level footing with domestic companies in China". ( )Another reason leads China to play the considerable role in economy is that a large number of young people go abroad for education and being experienced in information technology studies, management and globalization which they play important roles in modern societies, afterwards, return to China in order to apply their experience...