A Quick Overview Of The Economy Of China

A Quick Overview Of The Economy Of China



A Quick Overview of​ the​ Economy of​ China
The thriving economy of​ China is​ dictated by the​ People’s Republic of​ China .​
This has been the​ dominate force driving the​ economy since 1978 .​
Currently China’ economy ranks it​ #4 in​ the​ world so there is​ no doubt the​ regulations of​ the​ People’s Republic of​ China are working well for​ the​ people of​ China .​
However, the​ biggest criticized of​ the​ Chinese economy is​ that it​ appears the​ rich people keep on getting richer and​ the​ poor people never escape from poverty.
To help with the​ growing gap in​ the​ different social classes China underwent a​ political balancing act to​ help rectify the​ situation .​
This process was introduced in​ the​ 1990’s .​
The government worked hard to​ instill market reform .​
China really seemed to​ do well with the​ changed until the​ energy crisis that occurred in​ the​ late 1990’s .​
One issue that many countries have to​ contend with is​ unemployment .​
China appears to​ have the​ opposite problem .​
Since 2018 they have had a​ shortage of​ workers in​ the​ labor force to​ keep up with the​ continuous growth .​
Skilled workers are needed for​ the​ corporations and​ technology while unskilled laborers are needed for​ tending to​ the​ farms .​
China is​ the​ 3rd worldwide in​ the​ amount of​ production annually in​ their factories .​
Agriculture is​ a​ huge part of​ the​ Chinese economy with more than 300 million people working in​ that area .​
The foods grown in​ China are highly exported .​
It is​ estimated that their food exports feed up to​ 20% of​ the​ world’s population .​
The growth of​ China has some of​ the​ leaders in​ the​ country worried though .​
They are continually increasing the​ amount of​ natural resources they consume on an​ annual basis .​
The pollution and​ other environmental problems that come from the​ high number of​ factories are a​ concern .​
China's economy is​ certainly growing, but it​ has a​ long ways to​ go, which means there are lots of​ opportunities available.




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