{"id":230980,"date":"2023-03-14T20:08:12","date_gmt":"2023-03-14T14:38:12","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=230980"},"modified":"2023-03-14T20:08:12","modified_gmt":"2023-03-14T14:38:12","slug":"a-resilient-india-but-growth-pangs-for-china","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/a-resilient-india-but-growth-pangs-for-china\/","title":{"rendered":"A resilient India, but growth pangs for China"},"content":{"rendered":"\n<p><strong>Source-<\/strong> The post is based on the article \u201cA resilient India, but growth pangs for China\u201d published in \u201cThe Hindu\u201d on 14th March 2023.<\/p>\n<p><strong>Syllabus: <\/strong>GS3- Economic Growth and development<\/p>\n<p><strong>Relevance<\/strong>&#8211; Issues related to big data<\/p>\n<p><strong>News<\/strong>&#8211; The Chinese government has projected a growth target of around 5% in 2023. It is lower than that of last year and even lower than the expected GDP growth for India in 2023.<\/p>\n<h2><strong>What are the reasons for low growth in China?<\/strong><\/h2>\n<p>The Chinese economy is in a process of <strong>structural deceleration.<\/strong><\/p>\n<p>The <strong>consumption expenditure<\/strong> is recovering, <strong>external demand<\/strong> remains weak. The scenario of\u00a0 <strong>future private investmen<\/strong>t is weak. There are doubts about the role of the private sector in the Chinese economy and <strong>sentiment among foreign investors<\/strong> is weak.<\/p>\n<p>The real estate sector is still dragging down growth. Beyond 2023, the government\u2019s push for as<strong>tructural shift of the Chinese economy<\/strong> is still on the way.<\/p>\n<p>Over the last few years, <strong>tighter regulatory measures<\/strong> have been introduced to contain<strong>financial risks<\/strong> and achieve more <strong>social objectives such as a green economy, food security.<\/strong><\/p>\n<h2><strong>How is the Chinese economy undergoing transformations?<\/strong><\/h2>\n<p>The Chinese government has recognised that <strong>too high a growth<\/strong> is no longer possible nor desirable. It only aggravates f<strong>inancial imbalances<\/strong>. <strong>Sustainable growth<\/strong> has become a key concept in China\u2019s new economic narrative.<\/p>\n<p><strong>Job security<\/strong> is one of the most important objectives of the <strong>sustainable growth narrative<\/strong>. It is evident from <strong>higher target for new jobs<\/strong>, compared to last past years<\/p>\n<p>The need for jobs explains China\u2019s recent charm offensive to <strong>retain foreign direct investment<\/strong> in China as it is an important source of<strong> job creation.<\/strong><\/p>\n<h2><strong>Comparison between the Indian and Chinese economy?<\/strong><\/h2>\n<p>While India and China may not be <strong>too different in size and population<\/strong>, <strong>growth prospects<\/strong> differ substantially.<\/p>\n<p>China has lowered its GDP target further. In contrast, India <strong>remains resilient<\/strong>. An acceleration of this pattern is to be expected in the next few years. It will depend on whether <strong>reshuffling of the value chai<\/strong>n continues, pushed by <strong>geopolitics and high costs in China<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source- The post is based on the article \u201cA resilient India, but growth pangs for China\u201d published in \u201cThe Hindu\u201d on 14th March 2023. Syllabus: GS3- Economic Growth and development Relevance&#8211; Issues related to big data News&#8211; The Chinese government has projected a growth target of around 5% in 2023. It is lower than that&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/a-resilient-india-but-growth-pangs-for-china\/\">Continue reading <span class=\"screen-reader-text\">A resilient India, but growth pangs for China<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10498],"class_list":["post-230980","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704895533},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/230980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=230980"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/230980\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=230980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=230980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=230980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}