The global financial crisis: Evidence from China and India The global financial crisis (GFC) spread from the US and the EU economies to the developing world. Here, please post about contexts, attendant mechanisms, and processes associated with the GFC in China and India. You can comment about any aspect such as the size of the external shock, the cushioning effects, and responses associated with the GFC. What are the antecedents and consequences of the GFC in these two economies? Explain how the differences in economic, social, and political backgrounds of China and India have led to noteworthy differences in the impacts and responses to the GFC? What are the effects of macroeconomic policy framework and the state’s control on the economy in China? Have they acted as a buffer to protect the economy against the external shock? Why China’s and India’s responses to the GFC included a shift from export-driven to domestic demand-led growth and diversion and shift of economic links away from economies associated with the GFC
