Compare economic systems of US, CHINA AND INDIA ECONOMIC SYSTEMS
The economies of US, China and India are among the largest economies in the world. The socialist market economy of China is the second largest economy by the nominal GDP and leading purchasing power parity. It records a growth rate of 6% in the past 30 years. The economy of India is ranked as the fifth largest and third largest in purchasing parity. For more than a decade now, by 2016, US is the world largest economy accounting for 24% of the worlds GDP and experiences a kind of mixed economy. This paper therefore will provide a comprehensive analysis of the economic systems of the aforementioned countries with regards to the components that contributes to each one of them in terms of GDP and Purchasing Power Parity.