Economic Rise of China and India Essay Example

I’m working on a Economics exercise and need support.

merging Giants: The Economic Rise of China and India

Assignment 6: Institutions and Corruption

Due: Thursday, November 21, 4:05 p.m.

In this assignment, you will find and analyze data on a measure of democracy for China and India. You will then determine whether democracy is correlated with development.

Datasets:

Polity IV

http://www.systemicpeace.org/inscrdata.html (website where dataset can be found)

http://www.systemicpeace.org/inscr/p4v2017.xls (data in Excel)

http://www.systemicpeace.org/inscr/p4manualv2017.pdf (codebook in PDF)

World Bank World Development Indicators (GDP per capita)

http://databank.worldbank.org/data/reports.aspx?source=world-development-indicators

Background data collection and analysis:

1. Download democracy data for China, India, and Canada starting in the year of the 1960s corresponding to the last digit of your B00 number. For example, if your B00 number ends in 5, collect data starting in 1965. Find data through the year 2017. Use the series polity2.

2. For China and India (separately), calculate the correlation coefficient between democracy and GDP per capita (use the series GDP per capita (constant 2010 US$)). As each country has developed economically, has it become more democratic?

3. Choose a sample of 20 countries (not China or India), half with 2017 polity2 scores below zero, and half with 2017 polity2 scores above zero. For this sample of 20 countries, calculate the correlation coefficient between democracy (polity2) and GDP per capita (GDP per capita (constant 2010 US$)). Is democracy positively correlated with income per capita?(Economic Rise of China and India Essay Example)

Essay:

In your essay, describe the level of democracy in China and India and show how it has changed over time. Describe how polity2 is constructed and explain why it is used as a measure of democracy. Compare the two countries to each other and to Canada, and discuss whether GDP per capita is associated with democracy. Kaufmann et al. (1999) show that GDP per capita is highly correlated with measures of governance. Do you also find that GDP per capita is correlated with democracy?(Economic Rise of China and India Essay Example)

Detailed Instructions:

Your essay must have a title, an introduction, and a conclusion. Make sure to define your terms and provide appropriate background information. A possible essay structure contains five paragraphs:

• a first paragraph that briefly introduces the argument you will make in the essay;
• and a fifth, concluding, paragraph that briefly describes the main points you have made in the essay.

a second paragraph describing how democracy has changed over time;

a third paragraph describing how democracy is correlated with per-capita GDP in China and India;

a fourth paragraph describing how democracy is correlated with per-capita in your group of 20 countries;

The maximum length is 500 words plus a two-page data appendix; include a word count at the end of your submission. Include the grading rubric as the first page of your submission. Use Chicago or APA style, and write in 11- or 12-point font, double-spaced, with one-inch margins. Provide a bibliography listing the references you use, including the class PowerPoints if relevant. You must submit a hard copy (in class) and an electronic copy (on Brightspace) by the deadline. Please note that the electronic copy will be submitted to anti-plagiarism software.(Economic Rise of China and India Essay Example)

Data Appendix:

The data appendix should include enough detail for the grader to determine that you downloaded the correct data and performed the calculations accurately; if not all of your data fits on two pages, you may decide to include only the first and last years of information. Required charts and figures go into the body of your essay; any supplemental charts and figures should be placed in your data appendix.

Penalties:

• Late submissions: -10 points per day, starting immediately after 4:05 p.m.
• Over 500 words: -1 point for each additional 50 words (e.g., -1 for 501 words, -2 for 551 words, etc).

If you submit only an electronic copy and no hard copy, you will receive a zero on the assignment.

If you submit only a hard copy and no electronic copy, you will receive a zero on the assignment.

No rubric: -1 point.

No data appendix: -2 points.

Data appendix over two pages: -1 point for each additional page.

No word count: -2 points.

Solution

Merging Giants: The Economic Rise of China and India

In the annals of global economic history, few narratives have been as compelling and transformative as the simultaneous rise of China and India. These two Asian giants, with their immense populations and rich cultural heritage, have embarked on remarkable journeys of economic growth and development, capturing the attention of the world and reshaping the global economic landscape. This essay delves into the economic rise of China and India, highlighting the key drivers, challenges, and implications of their growth trajectories.(Economic Rise of China and India Essay Example)

Historical Context

China and India have long been recognized as ancient civilizations with vast contributions to human knowledge, trade, and culture. However, by the 20th century, both nations found themselves grappling with internal turmoil, colonial legacies, and economic underdevelopment. The dawn of the 21st century marked a turning point as both countries began to harness their immense human capital and resources to achieve rapid economic growth.(Economic Rise of China and India Essay Example)

Key Drivers of Economic Rise

1. Demographic Dividend: One of the most significant factors contributing to the economic rise of China and India is their demographic dividend. With populations exceeding a billion people each, these countries possess a sizable workforce, enabling them to tap into labor-intensive industries and services.(Economic Rise of China and India Essay Example)
2. Market Potential: The sheer size of the consumer markets in China and India has attracted global businesses and investors. As these nations transitioned from agrarian economies to urbanized centers of consumption, demand for goods and services skyrocketed, fueling economic growth.(Economic Rise of China and India Essay Example)
3. Export-Oriented Growth: China adopted a strategy of export-led growth, leveraging its low-cost manufacturing capabilities to become the world’s factory. This move not only lifted millions out of poverty but also positioned China as a global trade powerhouse.(Economic Rise of China and India Essay Example)
4. Technology and Innovation: Both countries recognized the importance of technology and innovation for sustained growth. China’s emphasis on research and development (R&D), coupled with India’s prowess in information technology and software services, led to the emergence of competitive tech industries.
5. Infrastructure Development: Heavy investments in infrastructure, such as transportation networks, energy systems, and communication channels, provided the necessary backbone for economic expansion.(Economic Rise of China and India Essay Example)
6. Globalization and Liberalization: Economic reforms opened up the Chinese and Indian economies to foreign trade and investment, spurring economic growth and integration into the global economy.

Challenges and Impediments

1. Income Inequality: Despite impressive economic growth, both China and India grapple with stark income inequality. Rapid urbanization and industrialization have led to unequal distribution of wealth, creating social tensions and disparities.
2. Environmental Concerns: The economic rise has taken a toll on the environment, with pollution, resource depletion, and climate change becoming significant challenges. Balancing economic growth with sustainable development remains a critical task.(Economic Rise of China and India Essay Example)
3. Structural Reforms: Both countries face the need for structural reforms to transition from low-skilled manufacturing to higher value-added industries. This requires investments in education, skills training, and R&D.(Economic Rise of China and India Essay Example)
4. Geopolitical Complexities: China and India’s geopolitical ambitions can lead to regional tensions, affecting trade relationships and global stability.
5. Bureaucratic Hurdles: Bureaucratic inefficiencies, corruption, and regulatory challenges have at times hindered the full realization of economic potential.(Economic Rise of China and India Essay Example)

Global Implications

1. Shift in Economic Power: The economic rise of China and India has signaled a shift in global economic power from the West to the East. Both countries are poised to become major players in shaping the future of the global economy.
2. Trade and Investment Opportunities: The burgeoning consumer markets in China and India provide unparalleled trade and investment opportunities for businesses worldwide.(Economic Rise of China and India Essay Example)
3. Bilateral Relations: The evolving economic ties between China and India have the potential to influence diplomatic relations, regional stability, and global geopolitics.(Economic Rise of China and India Essay Example)
4. Innovation and Technology: China and India’s advancements in technology and innovation have the potential to reshape industries and redefine global competitiveness.
5. Global Governance: As economic giants, China and India are likely to play increasingly influential roles in global institutions and negotiations, shaping international economic policies.(Economic Rise of China and India Essay Example)

Conclusion

The simultaneous economic rise of China and India represents a momentous chapter in world history. These ancient civilizations have transformed themselves into economic powerhouses, driven by demographic advantages, technological advancements, and market potential. However, challenges such as income inequality, environmental concerns, and geopolitical complexities must be navigated for sustained growth and global stability. As these merging giants continue to shape the global economy, their trajectories hold immense implications for trade, innovation, diplomacy, and governance on a global scale. The world watches with anticipation as China and India chart their paths toward greater economic prosperity and leadership(Economic Rise of China and India Essay Example)

Reference

https://www.ncbi.nlm.nih.gov/