how is India, equally populated country to China, is nowhere near the economy level China (EVERYTHING is made in here) has achieved with its manpower.
In: Economics
Ccp China loosened up restrictions in some geographically bound areas, which quickly evolved from small fishing villages to mega cities. See Shanghai and Shenzen.
India never really embraced trade as an economic policy. Even within India, there exist harsher barriers to trade than exist between a lot of nations. Trade within EU for example is in many ways easier than trade within India.
In short. Government interference in the economy is the difference.
Latest Answers