Using the list of NIC growth factors, evaluate India and China as to their prospects for...

Using the list of NIC growth factors, evaluate India and China as to their prospects for rapid growth. Which factors will be problems for India? For China?

Expert Solution

Despite having significantly higher or comparable resources, all the nations could not grow at a fast speed. The elements adding to the success of a nation includes its political, legal, cultural, and social factors.
At present, Country B is dealing with sluggish economic growth. On the other hand, Country M is experiencing significantly high economic development. Country B's existing yearly GDP development is 0.1%, whereas that of Country M is 2.2%. This, GDP per capita of Country M is significantly greater than Country B. The inflation rate in Country B is considerably higher than Country M. There is also a huge distinction in government debt, inflation rate, and fiscal balance. All these patterns plainly specify that in future Country M would continue to experience quick development.
The prime factors that would be a problem for Country B include the high-interest rate and inflation, a weaker currency, a surplus of budget, high taxes for the corporations, and a fall in the rate of a commodity. The economic downturn of China, which is the largest export market for Country B would also have a direct impact on the financial advancement of the nation

Rahul Sunny answered 2 months ago

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