India and China: A Study of Revealed Comparative Advantage.

China and India today represent Asia's two largest and most dynamic societies which are emerging as new trend setters in the international relations and have come to play an increasingly dominant role in the world economic affairs. Especially, with their enormous average GDP growth rates standing at 10% (China) and 6% (India), they have been recognized as the fastest growing economies of the last decade (2000-2010). According to the World Bank estimates of 2010, assessed on the basis of purchasing power parity, China and India have already become the second and fourth largest economies respectively of the world surpassing the developed economies. Today, from the global perspective, these two Asian giants are considered as major drivers of the world economy. It is in this context that the current paper makes an attempt to hypothesize the bilateral trading relations between India and China and assess the potentiality of their future trade. [ABSTRACT FROM AUTHOR]