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Sunday, April 17, 2011

Indians And Chinese Are Becoming Richer

Guess the increasing wealth of Chinese and Indians from the fact that they purchased 20 million cars last year, "70" times more than those purchased by Americans. The demand of every consumer item in China and India e.g. copper, cotton and other natural sources due to which the prices of these items jumped to high level. Then, they used manufacturing machines for consumer items, trucks and planes to transport them, and human beings to design and sell that positively affected the financial and economic conditions of people. That all resulted in the high sales of the manufacturer's products whose profit got increased and many employments opportunities were created. Moreover, this be kept in mind that if economically rising countries like India and China would have not progressed so quickly the financial crisis of 2008 in the world would have have been more crucial. At that time Chinese took a productive step and purchased consumer's items and other trade and industrial material from Japan, South Korea, Malaysia, and from other east Asian countries and saved the region from financial crisis. Experts say that if China India and Brazil become richer the world would be benefited because they will purchase industrial products and other items from foreign countries. Not only this but the new millionaires of China and India are spending their wealth in western countries for recreational tourism. They spend huge money for hotel luxury rooms, eating and drinking and purchasing local things in other countries that goes in the pockets of the people of those counties. For example during 2009, 50 million Chines were on tours to Japan, USA, France, and Switzerland. Tis number was double than that during 2005 and they spent more money as compared to French, Japanese and Canadian tourists. Today, Chinese and Indian companies are establishing their offices in foreign countries to expand their business world-wide and employing the local people. In Bombay IT Organization and Tata Consultancy Services have employed 13000 non-Indians. This organization provide IT services to USA and other European countries. Similarly, Chinese companies invested $ 56.5 billion during 2009 while in 2005 it was $ 12.3 only. Today 90 % of Americans are working in all the Chinese companies in the USA. companies

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