Economic Growth Conditions of China

CHINA PROFILE China is largest country of east Asia. The population is approximately 20% of world population China adopted- socialist market economy CHINA is the world second largest economy by nominal GDP & by purchase power parity. China is also the largest Exporter & second largest Importer of goods in the world. China is largest country of east Asia. The population is approximately 20% of world population China adopted- socialist market economy CHINA is the world second largest economy by nominal GDP & by purchase power parity. China is also the largest Exporter & second largest Importer of goods in the world.

Population Chinas population in 2016 was 1,37 billion– the largest in the world. It also has the worlds largest labor force of 807 million (1st; 2015), though some estimates place Chinas potential labor force. The official unemployment rate for China in 2015, provided by government statistics, was 4%. Chinas population in 2016 was 1,37 billion– the largest in the world. It also has the worlds largest labor force of 807 million (1st; 2015), though some estimates place Chinas potential labor force. The official unemployment rate for China in 2015, provided by government statistics, was 4%.

Maoist ERA….. Formation of Peoples Republic in Reduce inflation by the end of Communism Nationalization of banking system. Eliminating landlords. Great leap forward Formation of Peoples Republic in Reduce inflation by the end of Communism Nationalization of banking system. Eliminating landlords. Great leap forward

Economic Reform ~ this stage involved DE collectivization of agriculture, the opening up of the country to foreign investment & permission of entrepreneurs to start up business ~this stage involved privatization & contracting out of much state owned industry, lifting of price control,protection policies & regulation ~ this stage involved DE collectivization of agriculture, the opening up of the country to foreign investment & permission of entrepreneurs to start up business ~this stage involved privatization & contracting out of much state owned industry, lifting of price control,protection policies & regulation.

Agriculture Agriculture contribute for around 10.9% of china GDP. China is one of the world largest producer & consumer of agriculture products. Principal source of rice,wheat, corn, tobacco, tae, fish etc. China cropland area is only 75% of US total but china still produce about 30% more crops than US. Agriculture contribute for around 10.9% of china GDP. China is one of the world largest producer & consumer of agriculture products. Principal source of rice,wheat, corn, tobacco, tae, fish etc. China cropland area is only 75% of US total but china still produce about 30% more crops than US.

Industry Industry & construction account for 46.8% of chinas GDP. China ranked 3 rd worldwide in industrial output. Major industries include mining, ore processing, iron,steel, textile,petroleum, cement, automobile.rail cars etc. Industry & construction account for 46.8% of chinas GDP. China ranked 3 rd worldwide in industrial output. Major industries include mining, ore processing, iron,steel, textile,petroleum, cement, automobile.rail cars etc.

Services Service sector produced 43% of china annual GDP. Wholesale and retail trade expanded. Public administration remain a main component of service sector. Tourism has become significant factor in employment and source of foreign exchange. Service sector produced 43% of china annual GDP. Wholesale and retail trade expanded. Public administration remain a main component of service sector. Tourism has become significant factor in employment and source of foreign exchange.

Import-Export Import - $ 1.78 trillion Export goods: electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment, as well as almost every single category of industrial products. Export - $1.7 trillion Export Goods: electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals Import - $ 1.78 trillion Export goods: electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment, as well as almost every single category of industrial products. Export - $1.7 trillion Export Goods: electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals

Chinas GDP

GDP Growth 2000 to 2050 Source: Goldmann Sachs: The Path to [2003 bn US Dollars] Germany USA Japan Russia

Current Issue Slowdown of Chinese economy: Economic weakness in the U.S. and Europe A falloff in domestic demand Inflation worries Housing and banking are a mess A corrupt political system Slowdown of Chinese economy: Economic weakness in the U.S. and Europe A falloff in domestic demand Inflation worries Housing and banking are a mess A corrupt political system

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