In: Economics
From early 90's to 2019 there is significant rise in unemployment for both the countries. But unemployment rate in india is much higher than that of china. And also china unemployment rate is increasing at slower rate than india.
Before 2000's inflation rate in china was much higher than that of india but there is sudden change in inflation rate of china after year 2000. At present inflation rate of china is lower than that of India.
Welfare can be measured by per capita income. From the graph it is clearly visible that per capita income of china is way better than of india.