10 Facts about China’s Economy
Get the interesting Facts about China’s Economy in the following post below. By the nominal GDP, China is the second largest economy in the world. IMF states that the socialist market economy of China is considered as the largest one in the world based on the purchasing power parity. However, the National Bureau of Statistics of China rejects the claim. Here are other interesting Facts about China’s Economy:
Facts about China’s Economy 1: the growth rate of China’s economy
The growth rate of economy in China is 10 percent for the last 30 years. Therefore, it is considered as the fastest growing major economy in the world until 2015.
Facts about China’s Economy 2: the manufacturing sector
One of the important sectors of China’s economy is seen on the manufacturing sector. This country is considered as the second largest importer of goods and fastest growing consumer market in the world.
Facts about China’s Economy 3: the international trade
China is one of the countries which play a significant role in the international trade. In 2001, China joined WTO or World Trade Organization.
Facts about China’s Economy 4: the free trade agreement
There are various free trade agreements that China has with other countries in the world such as ASEAN–China Free Trade Area, China–South Korea Free Trade Agreement and ASEAN–China Free Trade Area.
Facts about China’s Economy 5: the criticism
Even though China has large economy, the Western media always criticize the unfair trade. It can be seen on the protectionism, intellectual property theft and artificial currency devaluation.
Facts about China’s Economy 6: the agricultural products
The agricultural products are very important in China. It is considered as the largest consumer and producer in the world. The farm workers in China are 300 million individuals.
Facts about China’s Economy 7: the types of agricultural products
Some of the agricultural products generated by the country include rice, millet, sorghum, potatoes, tobacco, pork, peanuts, tea, soybeans, corn, and many more. Check facts about Brazil Economy here.
Facts about China’s Economy 8: the non food crops
Some of the non food crops produced by China include oilseeds, fibers and cottons.
Facts about China’s Economy 9: the environmental problems
There are various environmental problems which affect the farming condition in China such as erosion, drought and floods. Get facts about Canada’s Economy here.
Facts about China’s Economy 10: the real estate industry
The real estate industry accounts 20 percent of the Economy in the country. The production of steel in China accounted 45 percent of the whole production in the world based on the report in 2011.
What do you think on facts about China’s economy?