As the two biggest developing countries, China and India are developing their economies rapidly. They are also the main economic powers in Asia.

Recently India's newly-appointed chief economic advisor, Kaushik Basu, said at the Federation of Indian Chambers of Commerce and Industry meeting that the country could possibly surpass China's growth rate in four to five years. He also added that this growth scenario was "not an impossibility". The news caused Chinese internet users to discuss the economic development between China and India.

China is one of the most rapidly-aging countries in the developing world.  Yet although it has seen incredible
economic growth in recent times and is on its way to becoming a rich country, its wealth is very thinly spread. This factor means China will have much more trouble absorbing the costs of rapid aging than richer nations such as the U.S.

Kelda Yuen reports on the factors that have led to this dilemma.

Mourning Victims Of Zhouqu Landslide
Genetic Discrimination Case
Is China Still A Developing Country?
Rich House, Poor House

Yesterday we showed the first part of BON reporter Hattie Zhao's report on China's rise as the second largest economy in the world. We took a look at what contributed to the country's dramatic growth in GDP over the past several years, as well as the rising issues the country now faces due to its new clout as an emerging economic powerhouse- Issues that include migration, pollution, and growing inequality between classes. In Part One, we learned that China’s real estate bubble has dramatically widened the gap between the country's rich and poor. And this disparity can be evidenced in the fact that though China’s per capita GDP is less than that of developing nations like Namibia and Ecuador- it now boasts the world’s second largest consumption of luxury goods. Today, as we continue the second part of Hattie’s report, we take a look at the everyday life of ordinary Chinese people- how their lives are changing as their country’s economy continues to change. Yesterday we ended the program with Kerstin’s interview- as she spoke of the changes her family has experienced in the past 10 years of China's economic rise.

Next month 6.3 million new university graduates will flood China's already strained job market.

While a highly-educated workforce can be an asset to a developing country, it has also proved to be a burden. Over the past three years, about 30 percent of college grads have found themselves jobless.

This young, restless generation is paired with a government feeling the pressure to come up with a solution. BON's Katie Fischer reports on one alternative.

It's been a box office blockbuster. With over 1.6 billion dollars in sales worldwide, Avatar is on course to be the biggest, most successful film of all time. Even in China where the movie theater infrastructure is still developing, especially outside major cities, it's already the most successful film ever shown.

It's taken over 80 million dollars nationwide, and theaters - at least those with 3D facilities - up and down the country have been sold out solidly for much of Avatar's run.