A Comparative Study: How Educational and Healthcare Preparedness Affected Marketization of the Chinese and Indian Economies.

摘要

In this archival study, I explore reasons why India's economic takeoff into marketization in 1991 failed to meet the same success as China in 1979 when it made the same transition. I analyze the impact of education and healthcare on development and how investments in both sectors can yield significant returns privately and socially. The research in this paper seeks to answer the following question: Why was the Indian economy unable to meet the same success as China when developing a global, open market economy?;In order to answer this question, I begin by proving a solid relationship between education, healthcare, and development. Then, I set out to undercover education and healthcare reforms enacted by China that helped contribute to the overall success of the new economy. After, I look at the holes in the education and healthcare sectors of India that contributed to the weak transition into the new economy, as well as new mandates that seek to repair these issues so that the economy can grow and prosper at a more favorable pace.;The results of this study reflect that India was unable to meet the success of China when transitioning to a global market economy because poor social preparedness prevented the Indian people from reaching their full potential. With poor education and a major lack of healthcare, the population could not contribute to the growth of the new economy because they either did not understand how to stimulate it, or were simply too sick.