1 Answer | Add Yours
I think that you might be able to highlight President Obama's recent trip to India as representation of the similarities between both economies. When the President declares India as a vital economic partner to the United States, he isn't kidding. It speaks to how both economies are similar. In the last two decades, India's economy has paralleled the United States' in terms of becoming an economic order predicated upon privatization of wealth and free trade. Similar to the United States, federal regulation does not hamper competition from the private sector, and this has allowed Indian GDP to rise significantly. The fact that in the last two decades India's economy can be mentioned on par with that of the United States would indicate this. Indian GDP and per capita income has been projected to rise steadily over the next forty years and even surpass that of the United States. Both nations' emphasis on free trade, balancing the import/ export balance, and avoiding protectionist measures makes their economies interdependent in a globalized setting.
We’ve answered 319,827 questions. We can answer yours, too.Ask a question