11th Economics Chapter 8

All three countries started their developmental paths around the same time – India and Pakistan in 1947, and China in 1949.

Regional and global economic groupings are important for countries to strengthen their domestic economies and better understand the developmental processes of their neighboring nations, thereby comprehending their own strengths and weaknesses vis-à-vis their neighbors.

India is the largest democracy with a secular and liberal Constitution. Pakistan has a militarist political power structure, and China has a command economy that is transitioning towards a more liberal economic system.

The 'Great Leap Forward' campaign was aimed at industrializing China on a massive scale by encouraging the setup of industries, communal farming, and collective cultivation of land.

After the establishment of People’s Republic of China, critical sectors of the economy came under government control. China initiated the 'Great Leap Forward' campaign in 1958. Pakistan also adopted similar strategies to India, such as creating a large public sector and focusing on social development until the 1980s.