Part 2/10:
In the 1950s, both China and India embarked on their economic journeys from similar starting points. Both nations were initially impoverished, having faced years of foreign invasions, civil wars, and, in China’s case, Japanese occupation. The establishment of the People's Republic of China in 1949 marked the beginning of a centrally planned economy under Communist leadership. Meanwhile, India gained independence from British rule in 1947, inheriting a mixed economy with pockets of industrial development but widespread agrarian poverty.