Country Analysis of China Term Papers
China, with its 1.28 billion inhabitants, is – and has always been – the largest potential consumer market in the world. Merchants the world over have been tantalized by the Chinese opportunity ever since the days of Marco Polo. Yet, the political reality over the last half-century has not been favorable to open trade with China. But recently, this situation has begun to evolve in a favorable manner. Beginning with the ascendance of Deng Xiaoping to power in 1978, economic reforms have been bringing China closer and closer to the world economy. As of December 2001, the country has joined the World Trade Organization (WTO) as a formal member; this is important because the WTO, based in Geneva, is a globally accepted forum for the setting of international trade rules and the resolution of international trade disputes. Among other things, membership in the WTO sends the world economic community a clear signal that China will reduce tariffs and relax restrictions on currency conversions, opening its vast market to foreign exports.
Today, China is the world’s second largest economy, with 2000 GDP (Gross Domestic Product, measured on a purchasing power parity basis) estimated at $4.5 trillion. This puts per capita GDP at about $3,600. Even so, with the Chinese economy’s real output measured at approximately one trillion dollars per annum, it is roughly a tenth the size of the United States’ economy. While the country’s population is growing at a rate of 0.88% per annum, China’s real economic growth rate (measured as growth in GDP) was estimated at approximately 8% in 2000. Reportedly, the global recession has slowed growth some, and the economy is advancing at an annual rate of 7.6% based on the first nine months of 2001Order your custom Country Analysis of China economics research papers today...Place Order Here!
Custom Country Analysis of China Term Papers
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