Effects Of 2008 Crisis N Political Economy Decisions

STUDENT ID: S00801773 International Business Economics INB 460 Effects of 2008 crisis n political economy decisions in two countries: India China Word Count: 1647 Contents Introduction 3 China 3 India 4 Economic Policies 4 FDI 4 GDP 7 Inflation 8 Current Account 9 Conclusion 10 Bibliography 10 Introduction The financial crisis, which began in late 2007 in US, went on to affect Europe and Asian counties. The economists were of the opinion that it would not affect the developing nations like China and India. Moreover as per the economists, these countries have already adopted reforms, which would make them withstand such crisis, and hence would be able to sail through it. But that was not the case. We would be comparing the economic policies of these countries’. Both the countries’ have high economic growth rate since last decade or so and are rapidly raising their footprint in global scenario. China China opened its arms’ in the late 70’s and since then has never looked back. From a centrally planned economy to market based economy has put China as a major global economy. Till recently, a command economy, China has move towards more private sector, but still majority of the macroeconomic processes are controlled by state. The country has moved to being a manufacturing hub on account of its huge low cost manpower and became an export hub by providing subsidized infrastructure (Paul,Show MoreRelatedThe Financial Crisis Of 20071646 Words   |  7 PagesThe most recent financial crisis of 2007 was felt throughout the world, and brought about huge economic consequences that are still being felt to this day. Within the United States, the crisis undoubtedly resulted in a surge in poverty and unemployment, a significant drop in consumption, and the loss of trust in the capitalist economic system. Because of globalization, this crisis was felt through the intertwined gl obal markets, affecting underdeveloped countries even more. 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