Research Paper: China And Indias Contribution To The World Economy

China and India’s Contribution to the World EconomyStudent NameInstitution Affiliation Contents TOC \o "1-3" \h \z \u 1Introduction PAGEREF _Toc409245396 \h 22Factors Holding India Back PAGEREF _Toc409245397 \h 23China and India as Emerging Powers PAGEREF _Toc409245398 \h 34Protectionist Backlash against China and India PAGEREF _Toc409245399 \h 45How Global Crisis Affect China and India PAGEREF _Toc409245400 \h 55.1Regional Growth PAGEREF _Toc409245401 \h 55.2Producers of Pharmaceuticals and Chemicals PAGEREF _Toc409245402 \h 66References PAGEREF _Toc409245403 \h 8Introduction The rapid economic rise of china and India causes a new balance of power in the world economy. The rise is based on cheap labor, market regulation, opening up to foreign capital and technology, and economic liberalization. The two nations rise to power challenges the other economic dominant powers such as US, Japan, and Europe, who dominate the international trade as well as controlling financial resources. The global economic meltdown of 2008 hit all emerging economies worldwide. However, India and china have a large domestic market, which helps them retain high growth rates. Therefore, it is a paradox that catch-up is still happening