Manaienko Iryna, Candidate of Sciences (Economics), Associate Professor of the Department of Management, National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute», Kyiv, Ukraine

ORCID ID: 0000-0002-3246-3603
e-mail: verholyad@ukr.net

Ivanova Anastasiia, Applicant of Higher Education, Faculty of Management and Marketing, National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute», Kyiv, Ukraine

ORCID ID: 0000-0002-5086-4996
e-mail: willow.iva.30@gmail.com

Burtova Anastasiia, Applicant of Higher Education, Faculty of Management and Marketing, National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute», Kyiv, Ukraine

ORCID ID: 0000-0001-7943-7261
e-mail: burt.anastasia.burt@gmail.com

Economic Analysis of Macroeconomic Trends: China and India

Abstract. Introduction. Nowadays the world is on the cusp of major changes. The eastern market is becoming much more popular, important and powerful for the international community. India and China are already openly fighting for world domination through the dynamic growth of their own economic and military potential. It should be noted that, it was important for a detailed analysis of the economies of these eastern countries not only to process statistics, but also to take into account traditions and culture. 

Purpose. The main idea of this article is to understand clearly the aspects of further development of the world economy and to identify economic risks and trends, analyzing the following macroeconomic indicators of eastern giants’ countries. 

Results. A detailed analysis of the dynamics of GDP’s changes over the past 5 years was conducted and once again emphasized the power of these national economics that has only grown in recent decades. The importance of initiatives and innovations, creating by the eastern neighbors for the world community, was highlighted through a determination of the role of India and China in the integration international associations and study of the attracted investments. The interdependence of the world’s market and the eastern market of India and China was considered, a detailed breakdown of exports and imports of goods and services was carried out and that gives us the opportunity to identify the most important and most powerful groups of goods for today.

Conclusions. The study identified similar aspects of the development of emerging economies such as India and China, which were supported by reports from objective sources of statistical information. Determining the macroeconomic situation of the next national economies allowed us to explain how the COVID-19 pandemic changed the action plan of the studied countries, to find weaknesses of strong enough economies, and also to make certain predictions about the future world market.

Keywords: India; China; the economic impact of the pandemic; macroeconomics, gross domestic product; international trade; investments; developing countries.

References:

1. Birla, K. (2015). India is on the cusp of a momentous change of course. The Smart Magazine, 14(2), 1-31. 
2. Lin Yifu J. (2011). Demystifying the Chinese Economy. Cambridge : Cambridge University Press. P. 330. DOI: https://doi.org/10.1017/CBO9781139026666.
3. Hanemann, T., Rosen, D.H., Gao, C. & Lysenko, A. (2020). Two-Way Street: 2020 Update US-China Investment Trends. A Report by the US-China Investment Project. Retrieved from http://publications-research.s3.amazonaws.com/TWS+2020_Report_8May2020_Final.pdf.
4. Antonyuk, B.O. & Horohovska, N.V. (2016). Strategic directions of China’s competitive development in the XXI century. Global and national economic problems, 13, 49-54. Retrieved from http://global-national.in.ua/archive/13-2016/12.pdf [in Ukrainian].
5. Borkova, A.A., Krivenko, A.V. & Sidorov, A.A. (2019). The factory of the world. China’s economic miracle and its participation in the global economy. Moscow Economic Journal, 8, 151-162 [in Russian].
6. The World Bank (2021). Official website. Retrieved from https://data.worldbank.org/
7. United Nations Conference on Trade and Development. (2021). Official website. Retrieved from https://unctadstat.unctad.org/EN/. 
8. Statista (2021). Official website. Retrieved from https://www.statista.com/
9. IQAir (2021). Official website. Retrieved from https://www.iqair.com/world-air-quality-report 
10. Trading Economics (2021). Official website. Retrieved from https://tradingeconomics.com/  
11. Ghosh A., Nundy S. & Mallick T. (2020). How India is dealing with COVID-19 pandemic. Sensors International, 1, 100021. DOI:  https://doi.org/10.1016/j.sintl.2020.100021.
12. Harrison V. & Palumbo D. (2019). China anniversary: How the country became the world’s ‘economic miracle’. BBS News. Retrieved from https://www.bbc.com/news/business-49806247 
13. Bolt W., Mavromatis K. & Wijnbergen S. (2019). The Global Macroeconomics of a Trade War: The EAGLE model on the US-China trade conflict. Tinbergen Institute Discussion Paper. №015/VIII. Retrieved from https://www.econstor.eu/bitstream/10419/205305/1/19015.pdf 
14. Singh B.P. (2020). Impact of COVID-19 on Rural Economy in India. MPRA Paper. №100530. Retrieved from https://mpra.ub.uni-muenchen.de/100530/. 
15. The World Economic Forum (2021). Official website. Retrieved from https://www.weforum.org/  
16. Jing M. (2019). China to press ahead with investments in 5G and Internet of Things. South China Morning Post. Retrieved from https://www.scmp.com/tech/policy/article/2182358/china-press-ahead-investments-5g-and-internet-things-ndrc-official-says