Economic Rise of China and India: A Comparative Analysis

China and India have emerged as the worlds leading economies in the last four decades. The remarkable economic rise of the once-dormant and fragile economies of both China and India is one of the astonishing stories in the recent past. Both have introduced robust and revolutionary reforms in their economic policies which effected fast and sustained economic growth. These reforms include liberalization of the economic policies, emphasis on attracting foreign direct investment, and focus on enhancing trade. China, which introduced the semi-capitalist economy after the 1978 reforms have already become the worlds second-largest economy behind the USA, while India has emerged as the fastest-growing economy in South Asia. This study aims at comparing the economic trajectory of these two rising Asian economic giants. The research also focuses on those factors that played a decisive role in the economic rise of these countries.