There are two new major players emerging in the East – China and India. Both have huge land masses ad vast amounts of natural resources. Both offer various trade possibilities, but there are some differences between them.
China is ruled by one party – Chinese Communist Party. Therefore its ideology for a long time was anti capitalism and as we now international trade is a part of it. Today China has realized its potential and its economy though slowed down by the global crisis is steadily developing and in time China will be a lead player global economics. Due to the low price of raw materials and labor China’s products can successfully compete in the global market China’s silk road economic belt.
India is a democracy and until the 1990s had closed economy, but for the last 15 years has steadily opened its economy. Though there are still a lot of restrictions India’s economy is one of the fastest growing in the world. India focuses its attention on information technology, outsourcing and pharmaceuticals.
And then there is the question of quality which applies to both countries. Thanks to the modernization of industry and educational systems both countries are steadily decreasing the quality gap when compared to more advanced countries. There is still a long way to go to reach the economical level like in US or Western Europe, but there is a huge potential in China and India.