China and its Economic
Introduction of China
The People Republic of China, my home country, is situated in eastern Asia on the western shore of the Pacific Ocean. The area of China is about 9.6 million square kilometers. China has more than 5000 islands; Taiwan and Hainan are two biggest islands of them.
The scenery of China is very beautiful, with mountains and ranges highlands, plains, basins, and hills. The area of mountains and hills is about 65 present of China’s whole mass, and there are more than 2000 lakes in China. China is characterized by a continental climate; the average latitude is about fifty degree. Temperatures differ therefore rather strikingly across the country.
China abounds in natural recourse, the amount of natural resource is always at the top ten of them world. As my research, only few countries in the world boast more wildlife than China, many of them are native to China, like giant panda, snub-nosed golden monkey and so on, what is more important, China's dawn redwood and Cathay argyrophylla are also recognized as the living fossils of ancient plants. . In modern society, China has established more than 700 nature reserves to protect native plants and animals.
The history of China is about five thousand years, in the 21st century B.C; China began to experience the slave society with the founding of the Xia Dynasty. In 221 B.C., Qin Shihuang established China's first centralized autocracy. During the 5000 years, the economic and science is really developed a lot in ancient China. About 3000 years ago, the Chinese had mastered the art of bronze metallurgy, they invented the irons implement, many famous scientists, artists, thinkers and writers come into beings. Ancient China's four inventions: papermaking, printing, powder, and the compass are also famous in the world. On the other hand, Chinese achievements in mathematics, medical science, astronomy, agriculture, and architecture, are also be recognized by the entire world.
China is a multiracial country with 56 ethnic groups, the Han people account for 92 present of the population. Beijing is the Capital of China; Beijing is not only the political center of China, but also the cultural, scientific, educational heart of China, but also the key transportation hub in China. The history of Beijing has been served as capital is over eight hundred years. Many accident building are also famous in the world, for example, the great wall, the Temple of Heaven and so on.
The national flag of the People's Republic of China is red in color, rectangular in shape, with five stars. The proportion between the length and height of the flag is three to two. There are five five-pointed yellow stars which are located in the upper left corner of the national flog. One of them, the bigger one, located on the left, the other four stars hem it in on the right.
Chinese Economic:
During the last twenty years, as the development of science and the progress of the world economic, the economics of China also increase quickly. Chinese peoples’ life is becoming much better than before. In the last 20 years, the economic growth of China has been almost miraculous, averaging 8% growth in Gross Domestic Product (GDP), the growth of economy is more than ten times during that period. By 2007, Chinese GDP has already reached 3.42 trillion US dollars, in Purchasing Power Parity GDP; China has been the second biggest economic country after USA.
In the modern economic history of China, economic reforms started in the 70s and 80s. At first, the initial focus of these reforms was on collectivizing the agricultural activities of the country. Few years later, the Chinese government tried to transfer the center of Chinese agriculture from farming to household activities. After that, reforms of China extended to the liberalization of prices, in a gradual manner.
China has generally implemented reforms in a gradualist fashion. In modern world, the economics of China have already played an important role to the international trade in the world. China's foreign trade has grown faster than its GDP for the past 25 years. The growth of Chinese economic comes from both state investments in infrastructure and heavy industry and from private sectors expansion in light industry expects just export. In 2008, because of the financial crisis, thousands of private companies closed down, and the Chinese government announced plans to expand the public sector to take up the slack caused by the global financial crisis. In 2010, there were also approximately 10 million small businesses in China.
In China, the two most important sectors of the economy have traditionally been agriculture and industry; the two essential sectors can employ 70 present of labor force and produce over 60 present of GDP. China is the world’s largest producer of rice and is amount of the principal sources of wheat, corn, tobacco, soybeans, peanuts, and cotton. China is also one of the world's largest producers of a number of industrial and mineral products, including cotton cloth, tungsten and so on.
International trade of China:
China, the country with 1.2billion people and the world's fastest growing major economy, has been hailed as potentially the “market of all markets”. Now China is the second largest recipient of foreign capital (Next only to United State).
By the research in 2000, the total volume of China's exports was US$232 billion for just one year, accounting to the CLA World Fact-book. The main commodities of China are machinery and equipment, textiles and clothing, footwear, toys and sporting goods, and mineral fuels. The United State is the biggest buyer of Chinese goods; they bought 21 present of China’s export. China also exports large amount of agricultural goods and manufactured goods, and industrial supplies and materials such as crude steel and chemicals account for about 50 percent of our exports. In 2000, China imports a total volume of US$197 billion, the main commodities China imports are machinery and equipment, mineral fuels, plastics, iron and steel. The main resource of China come from Japan, Japan provides 20 present goods of Chinese import.
China’s international trade has expanded steadily since the opening of the economy in
1979. Exports and imports have grown faster than world trade for more than 20 years and
China’s share in global trade has increased steadily since 1979. China has increased its presentation into advanced country markets. In modern society, China has already played an important role in Asian regional trade. China is now among the most important export destinations for other Asian countries, and amount of import is also at the top of Asian.
China’s export base has diversified a lot during the last twenty years, from an initial heavy reliance on textiles and other light industry. In 1990s, the amount of light manufacturing accounted for more than 40 percent of China’s exports. A large part of the remaining exports was manufactured goods and machinery or transport. However, in recent years, China has made many gains in other exports categories including more sophisticated electronics, furniture, travel goods, and industrial supplies. For example, the part of China’s exports represented by machinery and transport increase from 17 percent in 1993to 41 percent in 2003, while the part of miscellaneous manufacturing declined from 42 percent to 28 percent.
Economic Relationship between China and American:
In modern society, the US and China are probably the world's two largest economic counties in the world, so the relations between China and United State will be crucial to the future of world’s economic. As the whole, the relationship between two big countries is much better than before, more and more international between two countries are established in modern society. However, there are still some problems for the economics of two countries. US imports from China were overwhelmingly concentrated in the broad miscellaneous manufactures category, followed by machinery and transportation equipment. The goods Chinese exports to the US is over one billion dollars in ten more narrowly defined three digit SITC categories. Like toys, games, and sporting goods, footwear, women and girls coat, telecommunication equipment and so on. These imports are almost wholly labor-intensive manufactures, and economic theory suggests that this exerts downward pressure on the wages of import-competing domestic low-skilled labor, if production in such activities is actually carried out domestically.
Now, the United State has begun to limited abilities to affect the development of the Chinese economy-the results of the major economic policy issues that China faces will be determined internally. For example: If the political leadership in China began to be afraid of centrifugal forces were pulling the country apart, there will be a retrenchment of economic reform. Then the Chinese government would be less responsive to the interests of foreigners. In this condition, there would probably not be a whole lot that foreigners could do to reverse such a tendency. Contrary the calls before to “contain” China, the goals of US policy toward China are to promote economic liberalization within China, and purse US commercial interests. Some policies which were made by United State will be influenced by the demands of a variety of domestic interests with their own particular agendas. As a whole, the US policy toward China is best to be regarded as a manifestation of competing interests in which no single goal predominates.
In 1995, China joined in World Trade Organization (WTO), at that time, China has been one important member of WTO, and the international trade between was becoming more and more than before. And then China’s commitments will eliminate broad systemic barriers to USA exports, like limits on who can import goods and distribute them in China. On trading rights, the US-China deal ensures that both foreign-owned importers located in China and foreign companies exporting into China will be permitted trading rights. Now, America has become the largest trade partner for export shipments, which consumes about 21 present of global Chinese exports. At the same time, America products account for 7.5 present of imports into China. In this way, both China and United State can benefit from the international trade between two countries, and the speed of two countries’ development is also growing very fast.
Conclusion
In my conclusion, in the last 30 year, China has already developed a lot in economic. Large amount of goods in different fields can be produced in China, like the agriculture goods, industry goods and so on. Many goods were export to other countries of the world, at the same time, China also import many goods what we need. Today, as the development of Chinese economic, China has already played an important role in current international trade. Although sometimes China has to face some problems like inflation, deflation, stagflation or financial crisis and so on, but we must admit that the economics of China is really improved. By economic communication with United States, both countries really benefit from the international trade between each other. Although, sometimes China and USA also make some special policies to protect the goods which are made by their own countries, so some economic conflicts are unavoidable. However, in 2005, after China join in World Trade Organization (WTO), the import goods and export goods between China and America is becoming more and more than before, and the economic communication between two countries in almost all the fields is also much more than before. So in my opinion, Chinese economic is developing in a high speed. China is trying to learn the advanced technology from each country of the world, especially America, the strongest country in the world. China is also good at absorbing the advanced experience of economic management, which is why China has already developed a lot in the current 30 years.
Works Cited:
1. http://www.transworldeducation.com/asia/china.htm
2. http://www.china-window.com/china_travel/china_tourism/brief-introduction-to-chi.shtml
3. http://www.travelchinaguide.com/intro/china.htm
4. http://www.economywatch.com/world_economy/china/
5. http://en.wikipedia.org/wiki/Economy_of_the_People's_Republic_of_China
6. http://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/China-INTERNATIONAL-TRADE.html
7. http://lib.hku.hk/hkspc/wto/wto_china.html
8. http://www.america.gov/st/texttransenglish/2008/June/20080619150836xjsnommis0.2596334.html
9. http://www.iie.com/publications/wp/wp.cfm?ResearchID=162
10. http://www.suite101.com/content/us-trade-with-china-in-2007-a59168
11. http://www.chinasavvy.com/
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