October 2007

Tale of the dragon and the elephant

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Introduction

The focus of the current article would be on India and China, which are considered as two of the fastest growing economies of the world. According to the newly released report titled 'Asian Development Outlook 2007 Update (ADO Update)' by the Asian Development Bank, developing economies from Asia are expected to register impressive economic growth in 2007, driven by fast growth in the People's Republic of China (PRC) and India. PRC and India, which together account for 55.3 percent of the total gross domestic product (GDP) in developing Asia, recorded their fastest growth in 13 years during the first half of 2007, and the fastest in 18 years in the fiscal year 2006, respectively. The present analysis, would cover the existing economic scenario in India and China

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