Report On Economic & Social Changes In India & China Since 1950

Question: In the 1950s,
Nehru said

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
Economic prosperity and social well-being ...................................................................................3
Problems faced by china in the 1950's ........................................................................................3
Problems faced by India in the 1950's .......................................................................................4
Economic and political reform in China in last 60 years............................................................4
Economic and political reform of India in last 60 years.............................................................6
Out comes of Reforms................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
India and China, these both Asian countries are considered as the fasted growing
countries in the world. Both country have different economic and political structure (Diana Lin
2011). The present report is based on the Economical and social changes which take place in
both nation from 1950. This report make analysis on the different aspects on both countries and
impact of economics reforms in context to Economic prosperity and social well-being. Problems
which were faced by countries were economic instability and rapidly increases in population in
1950. This report make considered which country has yielded greater results and how they are
become able to achieve these outcomes (Gilboy and Read, 2008).
ECONOMIC PROSPERITY AND SOCIAL WELL-BEING
India and China both are emerging countries in 21st century. These both countries are
socially and economically blessed and they are moving from developing to developed countries.
In the present era these both countries are the fastest growing nation in the world. Both nations
are expanding their business and services across the world (Corbridge and Harriss, 2013).
In the 1950's India's first1 Prime Minister said that both countries are different from each
other in respect to their political and economically structures. On the initial level of 1950's both
had similar problems.
Problems faced by china in the 1950's
There were lot of problems which are faced by China during 1950. In that era country
was suffering from different types of problems. Chainess government was improving its
political condition and on the other hand they were suffering from the effect of war from the
Japan (Corbridge, 2005).
In 1949 when the Communist party of china came to power, there leader's main goal is to
improve their long term goals. Main problems which were faced by country at that time is
economic instability and along with this they were not able to generating enough employment
opportunities for their people (Sundar, 2012). Population is rapidly increases and government
was not able to produce enough employment for everyone. In addition, China was suffering
effects from war in which many mines and factories were destroyed. In 1945 war with Japan, has
created greater impact on its industrial area where major machinery and ships were dismantled
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