Abstract
China has been a noted terrifying Asian Giant in the global political frame for several decades known for its foreign trade mechanism, low cost manufacturing and typical cultural identity. This vast country is believed to be largely a poverty-ridden enclave in a vast desert's inhospitable climate and Geography as well as a home of the largest population of the globe. Detailed account of China's economy and society was nearly unknown to the outside world up till recently for China being a communist regime. From 1949 onwards, China has worked hard under a vigorous planned activity in the sphere of literacy, industrial growth, population control, scientific research and overall economic change. India also embarked upon its planned development in 1951 in nearly the same conditions, to evolve a socialist pattern of society. Overhauling then present status China in 65 years has reached a status comparing well with USA. The wonderful progress by China is indeed a riddle, which can be understood with reference to reorganization, management, technological reshuffling, growth of wondrous skills in work-force and accessing the great citadels of scientific research. India chose the democratic organization and planned economy, and slowly worked for its resource use and adoption of new technology. However, India could not cross the barriers beyond Hindu Rate of economic growth, despite the assistance of progressive nations and World Bank. The strange magic played by China in the race of economic change needs to be understood deeply.
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