“China Today: Economy and Politics” Final Paper

CHINA TODAY: ECONOMY AND POLITICS FINAL PAPER
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The economy and political power of China is growing rapidly, China is considered among the countries that are doing well not only in the economic sector but also in politics. According to the economy of China, it is ranked as the second in the world with the highest gross domestic product (GDP) and high purchasing power, this is an indicator to display how healthy is the economy of China and the income revenue it pockets. However, experts claim that the country’s economy is slowing in recent years with more state-owned banks experiencing bad loans. These developments of the economy is a result of the public sector having a bigger portion of the share than the private sector from the outside investors, due to big share of the economy a lot of revenue realized is retained in the country for the development. In particular, the Belt and Road Initiative (BRI) project has facilitated the country’s massive economic growth in recent years.
China is considered to have massive natural resources such as coal, rare earth metal among others which have contributed to the growth of the economy by selling them, the natural resources are estimated to be $ 23 trillion. China has the largest number of billionaires with an estimated wealth of $ 999 billion and largest companies in the world with most of their headquarters are based in China, these wealth possessions have influenced China positively to their economic growth. China as a nation is rated as the largest manufacture economy, exporter and second largest in the importation of goods. China is well known for the manufacturing of a variety of types of equipment such as cars, kitchen utensils, types of machinery, technology invention among others.
These products are exported to many countries as it has the largest market network around the world in exchange for revenue which is invested to develop the country economy. On the same note China also has the largest importation of resources and various tools which necessitate developing the nation. Due to well business performance, China has registered itself in World Trade Organization, which has enabled China to have a free trade around the world with several nations such as Switzerland, Pakistan, New Zealand, South Korea, and Australia. The Chinese nation has more industries in the production of end products and also the creation of employment to its citizens and job seekers. These industries help in the growth of the economy and political powers
China has the largest stock exchange that is Shanghai Stock Exchange and Shenzhen Stock Exchange with market capitalization and trade volume. According to global competitive report, China has the highest labor force of about 789 million workers in 2018, the country has promoted employment to job seekers to cut of issues of immoral behavior such as corruption these laborers also have a great influence in the growth of the economy. As a result of more industries in the nation there is pollution of environment either by emitting out excess carbon dioxide and spilling of waste products to the environment, Nicholas stern and Fergus green have suggested the economy of China be shifted to ...