Poverty in India Bihar, Jharkhand and West Bengal, were dedicated to producing poppy and opium, which were then exported to southeast and east Asia particularly China, with the trade an exclusive monopoly first of East India Company, and later the colonial British institutions. The economic importance of this shift from industry to agriculture in India was large; by 1850, it created nearly 1,000 square kilometres of poppy farms in India in its fertile Ganges plains, led to two opium wars in Asia, with the second opium war fought between 1856 and 1860. After China accepted opium trade, the colonial government dedicated more land
Luxury goods of China Luxury goods of China The market for luxury goods in China composes a significant proportion of all luxury goods sales worldwide. In 2012, China surpassed Japan as the world's largest luxury market. According to a blue paper on commercial development in China, released in 2010 by the Chinese Academy of Social Sciences (CASS), China's luxury goods market had increased to US$9.4 billion by the end of 2009. This accounted for 27.5% of the world's luxury goods market, an increase from 25% in 2008. On current growth rates, the luxury goods market in China is expected to grow to US$14.6 billion