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Chindia

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Chindia is a portmanteau neologism that refers to China and India together in general, and their economies in particular. The credit of coining the now popular term goes to leading Indian economist and politician Jairam Ramesh.

China and India are geographically proximate, are both regarded as growing countries and are both among the fastest growing economies in the world. Together, they account for one-third of the human population. They have been named as countries with the highest potential for growth in the next 50 years in the BRIC report.

The economic strengths of these two countries are widely considered complementary - China is perceived to be strong in manufacturing and infrastructure while India is perceived to be strong in services. In information technology, China is stronger in hardware while India is stronger in software. China is stronger in physical markets while India is stronger in financial markets. The countries also share certain historical interactions -- the spread of Buddhism from India to China and trade on the Silk route are famous examples.

Indian intellectuals such as Jairam Ramesh and Subramanian Swamy have called for closer co-operation between the two countries.

However, there are also large geopolitical differences between China and India that arguably make this term inappropriate. The effects of the Sino-Indian War of 1962 has meant that relations between the countries have been cautious and slow. While China is a temperate continental state India is confined within the Indian sub-continent and has a tropical climate. Culturally, China is connected to the developed East Asian nations of Japan and South Korea. China's population growth rate is very low at 0.58% (2005) and its total population is expected to decline rapidly by 2030; whereas India's population growth rate of 1.4% (2005) will ensure that it will surpass China as the world's most populous nation by 2030 if there's no change in global condition <ref>UN Press Release </ref>. Their political systems are also vastly different with China being ruled by a single party and India being the world's largest voting republic. Land reforms took place in China in the late 1970s and market reforms started in the 1980s helped China become more capitalistic and economically developed than India. Land reforms in India are still stalled by Indian bureaucracy and other reforms in India have slowly started only in the early 1990s. The commonly cited complementary nature of China and India's economies is also being questioned as services in China is rapidly growing and threatening to match or overtake India's service industry within a decade and India's manufacturing sector has seen tremendous growth over the recent economic quarter.

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  • Chindia : The next Decade Senior Business Week writer Pete Engardio, credited for having made the Chindia neologism famous, compares the rise of both China and India in this online video conference.

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