China-India Trade in 21st Century: Measures for Tackling Imbalance

Abstract

China was free from Western power on Ist October 1949  with the Soviet base economy.it was closed and central planned economy.By the initiation of Deng Xiaoping,China introduced reforms in 1978 and laid the foundation of open market economy from closed economy. Basically reforms were introduced in four major areas: Agriculture.Science & Technology, Defence and Industry. Later on it started with the autonomy in state enterprises,modification and diversification of banking system, liberalization of foreign trade policies, encouragement of private sectors, stock market and investment etc.