India will recover faster than China from the impact of current global financial crisis as China’s heavy dependence on exports, a latest report by the Organisation for Economic Cooperation and Development (OECD) said.As per the OECD projections, Indian economy will start recovering from the crisis in 2009 itself, while China will have to wait for one more year. The growth projections of the OECD reveal that economic growth rate in India.
Will improve from 7.0 per cent in 2008 to 7.3 per cent the next year and went up further to 8.3 per cent in 2010. India recorded a growth rate of 9 per cent in 2007-08. However, in case of China the economic growth rate would fall from 11.9 in 2007 to 9.5 in 2008. The downward trend would continue throughout the next year with growth rate sliding further by 1.5 percentage points to 8 per cent in 2009.Chinese economy, as per the data, will recover only in 2010 with a growth rate of 9.2 per centExport growth is weakening and, with slower capital formation, domestic demand is lso projected to ease, the OECD forecast on China said.
Will improve from 7.0 per cent in 2008 to 7.3 per cent the next year and went up further to 8.3 per cent in 2010. India recorded a growth rate of 9 per cent in 2007-08. However, in case of China the economic growth rate would fall from 11.9 in 2007 to 9.5 in 2008. The downward trend would continue throughout the next year with growth rate sliding further by 1.5 percentage points to 8 per cent in 2009.Chinese economy, as per the data, will recover only in 2010 with a growth rate of 9.2 per centExport growth is weakening and, with slower capital formation, domestic demand is lso projected to ease, the OECD forecast on China said.
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