China`s GDP grew at its slowest pace in 18 months with 7.4 per cent growth in the first quarter of 2014, signalling a slowdown despite reforms and restructuring to revitalise the world`s second largest economy.
•Inequality in earnings has doubled in India over the last two decades, making it the worst performer on this count of all emerging economies. The top 10% of wage earners now make 12 times more than the bottom 10%, up from a ratio of six in the 1990s.
"An imbalance between rich and poor is the oldest and most fatal ailment of all republics", once said a great Greek historian Plutarch. Being a resource rich country, many parts of India still suffers from malnutrition, poverty and many other concerning problems, with the rich are getting richer and poor getting poorer.
India is the second most populated country in the world. It is a country where more than forty percent of population is said to be young and it is also a country that claims to be the fastest growing economy but spends less than 3.9% of total GDP (Gross Domestic Product) on health (according to The World Bank Data 2008-12).
China`s GDP growth slowed to 7.5 per cent in the second quarter amid concerns that the world`s second largest economy was headed for its weakest growth in 15 years with grim prospects of missing the official target.