China and India on the Road to Success

Topics: Bank, United States, Economy of the United States Pages: 8 (3321 words) Published: February 12, 2012
China and India on the Road to success
There are tons of economically successful counties in the world. However, these days two really stick out in the economic crisis. We are in currently; those are China and India. China and India are almost surpassing the United States faster than we can even try to catch up. They are moving at such an economically booming rate. China and India are moving and surpassing the United States with trade and by getting interest from loans to other countries. China and India are huge economic threats to the United States economy. In this research paper, I will be explaining why China and India are huge economic threats to the United States, why china and India are growing at substantially fast rates, and how they compare to one another.

A government called totalitarianism also known as dictatorship runs China. First, China is one of the main exporters to the United States. Their economy is growing at an increasingly fast pace over a short period. Currently China’s economy is at a GDP of 4.99 trillion and has grown at rate of 10% per year or more for 30 years. The capital produces $3,677. China is the second largest exporter and the second largest importer of goods traded. China’s trade with the United States is a crucial part of their economic success. There trade is a crucial part because China makes a lot of money from exporting and making money from those exports to other countries. China also lends out billions of dollars each year to the United States.

India uses a democratic system to run their country, and is also growing at an extremely fast pace. First, India is one of the top exporters in trade to countries all around the world. Second India exports more than they are import causing them to have a profit gain in trading. India is the eleventh largest economy in the world. India’s economy grew to 8.8% in 2010 while its GDP was at a nominal GDP of $1.243 trillion. India has an average growth rate at 5.8% per year for 24 years and lends out millions of dollars each year. China and India are two very similar countries; they are both major trading countries and are located in the same continent of Asia. China and India are very different in what they export and import. China imports $921.5 billion worth of goods from foreign countries. China imports electrical and other machinery, oil and mineral, fuels, optical and medical equipments, metal ores, plastics and organic chemicals. China’s main exporters are Japan, South Korea, Taiwan, United States and Germany. ( India imports $10.1 billion worth of goods from the United States. India imports civilian aircrafts, diamonds, chemical fertilizers, telecommunications equipment, organic chemicals, other petroleum products, computer accessories, jewelry, medicinal equipment, and industrial machinery. India’s main exporter is the United States.

Tax %| Monthly Income (CNY)|
5%| 1 - 500|
10%| 501 - 2,000|
15%| 2,001 - 5,000|
20%| 5,001 - 20,000|
25%| 20,001 - 40,000|
30%| 40,001 - 60,000|
35%| 60,001 - 80,000|
40%| 80,001 - 100,000|
45%| 100,001 and above|
Tax %| Income (INR)|
0%| 1 - 160,000|
10%| 160,001-300,000|
20%| 300,001-500,000|
30%| 500,001 and above|
China’s and India both export billions of dollars worth of goods each year. What they both do differ in is India exports more than it imports in money and China imports more than exports more in money. China exports $2.115 billion dollars in goods each year. The goods exported from China are electrical machinery, other machines, data processing equipments, apparel, textiles, iron, steel, optical equipments and, medical equipments. Their main importers are the United States, Hong Kong, Japan, South Korea and, Germany. India exports $21.8 billion worth of goods each year. India exports cotton household furnishing, cotton clothing, diamonds, jewelry, medicinal preparations, dental...
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