Chindia
Encyclopedia
For the landmark in Târgovişte, see Chindia Tower
. For a person of mixed Chinese and Indian origin, see Chindian
.
Chindia is a portmanteau word that refers to China
and India
together in general. The credit of coining the now popular term goes to Indian Member of Parliament Jairam Ramesh
. China and India are geographically proximate, are both regarded as growing countries and are both among the fastest growing major economies
in the world. Together, they contain over one-third of the world's population
(2.5 billion). They have been named as countries with the highest potential for growth in the next 50 years in a BRIC
report. BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China.
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 and 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 market
s. The countries also share certain historical interactions - the spread of Buddhism
from India to China and trade on the Silk route are famous examples.
However, there are also geopolitical, cultural, economic and political differences between China and India that some argue would make this term inappropriate. The effects of the Sino-Indian War
of 1962 have meant that relations between the countries have been cautious and slow. Politically, China can be characterized as a single party authoritarian state whereas India is a democracy of hundreds of political parties. India's culture can be characterized by a high degree of pluralism whereas China has a more ethnically homogeneous population. The commonly-cited complementary nature of China and India's economies is also being questioned as the service sector in China is rapidly growing, while India's manufacturing sector has seen rapid growth in recent years. China also has a head start
in international marketplaces and is a large investor in Africa. There is also the belief that China has greater geopolitical clout than India as well as a permanent seat on the United Nations
Security Council
.
China is seen to assert its global leadership. Many countries in the world are now counting on China to lead the recovery from the recent US economic crisis
and the 2010 European sovereign debt crisis
. China has also shown leadership ambitions through proposing an alternative reserve currency to the US dollar and extending yuan swap lines to several Asian and even non-Asian states.
Citigroup
predicts that the economies of China and India will have surpassed that of the United States
by 2050.
Chindia Tower
The Chindia Tower is a tower in the Curtea Domnească monuments ensemble in Târgovişte, Romania, built in the 15th century. The tower was begun during the second reign of Prince Vlad III the Impaler over Wallachia, taking its final form during the 19th century...
. For a person of mixed Chinese and Indian origin, see Chindian
Chindian
"Chindian" is a compound word used to refer to an Indian restaurant within the village of Chinnor, Oxfordshire. It is formed simply, yet ingeniously, by putting the "ch" from "Chinnor" in front of the word "Indian"....
.
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Chindia is a portmanteau word that refers to China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
and India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
together in general. The credit of coining the now popular term goes to Indian Member of Parliament Jairam Ramesh
Jairam Ramesh
Jairam Ramesh born April 9, 1954, is an Indian economist and an influential politician of the Congress Party in the United Progressive Alliance ruling coalition of center-left political parties heading the Government of India. He is a Member of Parliament representing Andhra Pradesh state in the...
. China and India are geographically proximate, are both regarded as growing countries and are both among the fastest growing major economies
Economic growth
In economics, economic growth is defined as the increasing capacity of the economy to satisfy the wants of goods and services of the members of society. Economic growth is enabled by increases in productivity, which lowers the inputs for a given amount of output. Lowered costs increase demand...
in the world. Together, they contain over one-third of the world's population
World population
The world population is the total number of living humans on the planet Earth. As of today, it is estimated to be billion by the United States Census Bureau...
(2.5 billion). They have been named as countries with the highest potential for growth in the next 50 years in a BRIC
BRIC
In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development...
report. BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China.
The economic strengths of these two countries are widely considered complementary - China is perceived to be strong in manufacturing
Manufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
and infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...
while India is perceived to be strong in services and information technology
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
. China is stronger in hardware
Computer hardware
Personal computer hardware are component devices which are typically installed into or peripheral to a computer case to create a personal computer upon which system software is installed including a firmware interface such as a BIOS and an operating system which supports application software that...
while India is stronger in software. China is stronger in physical markets while India is stronger in financial market
Financial market
In economics, a financial market is a mechanism that allows people and entities to buy and sell financial securities , commodities , and other fungible items of value at low transaction costs and at prices that reflect supply and demand.Both general markets and...
s. The countries also share certain historical interactions - the spread of Buddhism
Buddhism
Buddhism is a religion and philosophy encompassing a variety of traditions, beliefs and practices, largely based on teachings attributed to Siddhartha Gautama, commonly known as the Buddha . The Buddha lived and taught in the northeastern Indian subcontinent some time between the 6th and 4th...
from India to China and trade on the Silk route are famous examples.
However, there are also geopolitical, cultural, economic and political differences between China and India that some argue would make this term inappropriate. The effects of the Sino-Indian War
Sino-Indian War
The Sino-Indian War , also known as the Sino-Indian Border Conflict , was a war between China and India that occurred in 1962. A disputed Himalayan border was the main pretext for war, but other issues played a role. There had been a series of violent border incidents after the 1959 Tibetan...
of 1962 have meant that relations between the countries have been cautious and slow. Politically, China can be characterized as a single party authoritarian state whereas India is a democracy of hundreds of political parties. India's culture can be characterized by a high degree of pluralism whereas China has a more ethnically homogeneous population. The commonly-cited complementary nature of China and India's economies is also being questioned as the service sector in China is rapidly growing, while India's manufacturing sector has seen rapid growth in recent years. China also has a head start
Head start (positioning)
In positioning, a head start is a start in advance of the starting position of others in competition, or simply toward the finish line or desired outcome...
in international marketplaces and is a large investor in Africa. There is also the belief that China has greater geopolitical clout than India as well as a permanent seat on the United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
Security Council
United Nations Security Council
The United Nations Security Council is one of the principal organs of the United Nations and is charged with the maintenance of international peace and security. Its powers, outlined in the United Nations Charter, include the establishment of peacekeeping operations, the establishment of...
.
Challenges for growth
It is seen at present for both India and China to overcome major and mutual challenges such as regional and societal income disparities, moving up the value chain towards greater innovation, and also environmental degradation for Chindia to prosper and actually take effect in future.Emerging Asia
China and India are the most populous countries in the world, with more than a billion people each. It is predicted that both countries will continue to see their populations rise until at least the 2030s. At that point, China will begin shrinking, while India's will continue to expand.China is seen to assert its global leadership. Many countries in the world are now counting on China to lead the recovery from the recent US economic crisis
Late-2000s financial crisis
The late-2000s financial crisis is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s...
and the 2010 European sovereign debt crisis
2010 European sovereign debt crisis
From late 2009, fears of a sovereign debt crisis developed among investors concerning some European states, intensifying in early 2010 and thereafter.....
. China has also shown leadership ambitions through proposing an alternative reserve currency to the US dollar and extending yuan swap lines to several Asian and even non-Asian states.
Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
predicts that the economies of China and India will have surpassed that of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
by 2050.
Innovation, education and business
Today, China and India are producing some of the world's best-trained computer science and electrical engineering graduates.See also
- BRICBRICIn economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development...
, a similar term often used in financial contexts to refer to BrazilBrazilBrazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, RussiaRussiaRussia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, IndiaIndiaIndia , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, and ChinaChinaChinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture... - Sino-Indian relationsSino-Indian relationsSino-Indian relations, also called Indo-China relations, refers to the bilateral relationship between the People's Republic of China and the Republic of India. China and India are the world's most populous states and also fastest growing major economies...
- ChindianChindian"Chindian" is a compound word used to refer to an Indian restaurant within the village of Chinnor, Oxfordshire. It is formed simply, yet ingeniously, by putting the "ch" from "Chinnor" in front of the word "Indian"....
- ChimericaChimericaChimerica is a neologism coined by Niall Ferguson and Moritz Schularick describing the symbiotic relationship between China and the United States, with incidental reference to the legendary chimera....
- India, China & America InstituteIndia, China & America InstituteThe India, China & America Institute is a non-profit institute providing a sustainable, non-governmental platform to identify and drive synergies among India, China and the United States in the areas of emerging markets, commercial growth and alignment of policies for the benefit of a vast number...
Further reading
- Chindia Biz Blog hosted by the India, China & America InstituteIndia, China & America InstituteThe India, China & America Institute is a non-profit institute providing a sustainable, non-governmental platform to identify and drive synergies among India, China and the United States in the areas of emerging markets, commercial growth and alignment of policies for the benefit of a vast number...
- Jagdish N. Sheth. Chindia Rising. New Delhi, McGraw Hill India, 2007. Review Official Website
- The Indian Economy Blog - http://indianeconomy.org/, featuring many discussions on India and China's economic performance*\
- "Chindia Rising" - Book by Jagdish N. Sheth
- BusinessWeekBusinessWeekBloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
; 12 August 2005; "Chindia": China and India special feature - Do you have a Chindia strategy -ForbesForbesForbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
13 August 2007 - Beware the 'Chindia' effect - Mail & Guardian Online
- Jairam Ramesh. Making Sense of Chindia: Reflections on China and India. New Delhi, India Research Press, 2005. ISBN 81-87943-95-5
- Chindia Lounge, China & India (CHINDIA) Business / Culture / Travel / Outsourcing Resource Blog ChindiaLounge.com by an Asia Business Relations/Marketing Expert.
- India Fund perspective
External links
- The Chi-India booster of the world
- 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.
- Radio France International - Asia Pacific - Relations between India and China incl. interview with India Foreign Minister Shivshankar Menon
- Tap into Chindia Global Virtual Seminar Series
- India and China: Rivals or fellow 'tigers'? by Marianne Bray (CNN.com)
- Silk Road to riches beckons for 'Chindia'(theage.com)
- Chindia, where the world's workshop meets its office - The Guardian