Economics

Question 1

Debt as a % of GDP :

India
China

Answer 1

India : 40%

China : 280%

Question 2

How can shifting power / influence be described?

Answer 2

the power and influence of countries is fluid and constantly shifting

Question 3

What ‘G’ group are India and China both part of ?

Answer 3

G13

Question 4

What ‘G’ group are neither China nor India part of?

Answer 4

G8

Question 5

When was current G8/7 set up?

Answer 5

1975
outdated
pre-economic reforms for I / C

Question 6

China’s total GDP pre-release

Answer 6

$9.2trillion

Question 7

India’s total GDP pre-release

Answer 7

$1.8trillion

Question 8

USA’s total GDP

Answer 8

$16.7trillion

Question 9

EU’s total GDP

Answer 9

$18.5trillion

Question 10

How can slow / plateaued growth be countered?

Answer 10

via economy being flexible

Question 11

X2 examples of how China has proved its economy is flexible;

Answer 11

• mass economic reforms in 1980s

- 2015: relaxation of one child policy

Question 12

Since when has India’s growth rate been slower than China’s

Answer 12

since 1999s constantly

Question 13

When did China’s growth rate peak?

Answer 13

2005

Question 14

What did China’s growth rate peak at in 2005?

Answer 14

14%

Question 15

What is happening to China’s growth rate for GDP/

Answer 15

slowing down

e. g growth down to 6.3% in 2016
6. 0% by 2017

Question 16

What is notably about China and its debt?

Answer 16

may suffer future debt overhang problem

Question 17

What did CHina’s 5 year plan beginning in 2015 highlight? X2

Answer 17

emphasises need to increase innovation

and increase domestic consumption

Question 18

US GDP growth rate

Answer 18

2.2%

Question 19

More difficult to do business in India than China. India has been rated the X freest country to do business in?

Answer 19

123rd freest

Question 20

Hardest criteria of doing business in India

Answer 20

enforcing contracts

Question 21

money lost to corruption annually in India

Answer 21

$6billion

Question 22

annual healthcare budget in India

Answer 22

$4million

Question 23

Historical reason why India may have a business sector burdened by bureaucracy and corruption

Answer 23

post-independence
series of socialist governments with 5yr economic development plans
e.g government granted licences to businesses

Question 24

When did India receive an IMF loan? What conditions did this require / result in ?

Answer 24

1980s
pressure to liberalise economy
dismantling of the “licence Raj”

Question 25

How does the USA compare in terms of ease of doing business against I / C?

Answer 25

considerable lower scores considerably easier to do business

Question 26

GDP per capita : china and India

Answer 26

India : $1,580 China : $7,590

Question 27

GDP per capita USA

Answer 27

$54,000

Question 28

Relationship between democracy and GNI per capita in general

Answer 28

the more Democratic an Asian country, the greater the GNI per capita

Question 29

When was Japan's 'lost decade'?

Answer 29

1990

Question 30

What caused Japan's lost decade?

Answer 30

misallocating capital ended up exporting capital to develop other countries e.g for resources which caused slowing growth in Japan

Question 31

What does Japan's lost decade show about future statistics?

Answer 31

future economic health of nations is at most a guess

Question 32

2013 prediction for China's growth : PriceW.Coopers

Answer 32

1/3 of Standard Chartered's prediction only 3yrs earlier

Question 33

When is China's GDP predicted to equal USA's? | Why may this not be on track?

Answer 33

2030 | recent economic slow down - now at 25yr low for growth

Question 34

China-India trade balance What does this suggest?

Answer 34

china operating @ surplus India at deficit India has dependence on China for manufactured goods India is not one of China's largest markets - so little dependence in that way

Question 35

Chinese exports to India value

Answer 35

$150billion

Question 36

Indian exports to China value

Answer 36

$17billion

Question 37

Why is India in a long-term trade deficit with China?

Answer 37

- weak manufacturing sector of its own - since restrictive trade laws - inadequate power = does not meet needs of 1.3+ billion consumers

Question 38

Agriculture as a % of GDP : India China

Answer 38

India : 18% reflects still rural population China : 10%

Question 39

What % of all research and development spending is spent in the US?

Answer 39

30%

Question 40

What % of global transactions are done in dollars? $$$

Answer 40

80%

Question 41

Technology Access Index; India China

Answer 41

India - 0.32 (medium access) China : 0.43 (medium access)