Let me try my hand on India and China

In today's world if there is one thing that features on the business magazine covers every other day, is discussion about Chinese or Indian economy. Every columnist is talking about the huge economic growth already seen by these two countries. So what is really happening here? Why suddenly every other company is rushing to China or opening a tech-development centre in India?

To understand all these halla gullas, we need to start from the basics. Economics is a subject which deals with this. This subject tries to answer why, in Bangalore, we buy drum sticks Rs 10 per 2 on Monday while on Tuesday its Rs 5 per 2. And if you dig deeper, you will also know why in Kolkata, the same quality drumsticks sell at Rs 2 per 2 on Monday and at Rs 1 per 2 on Tuesday.

Unless you are somebody who has never been to a market to buy a thing or has never had a single lesson in economics, I suppose you know the story behind the fluctuations of drumstick price. Its Demand and Supply. Assuming constant demand, when supply is more in the market, price goes down and vice versa.

Now we change the topic and talk about a small island nation which is totally cut from the outside world. People of this