Chinese Economy Full Steam Ahead
China has registered a solid growth track since 2003, and its economy has expanded quickly and in a stable manner, the National Bureau of Statistics (NBS) said yesterday.
Living standards have also improved considerably, as income levels and economy have steadily increased since the 16th National Congress of the Communist Party of China convened in 2002, according to the NBS.
The economy expanded by more than 10 percent in each of the last four years, at an average of 10.4 percent. That is more than double the average growth rate of the world economy during the same period, and is higher than any period in China since reform and opening-up in the late 1970s.
The economy remained stable as it steamed ahead. In the last four years, the growth rate never fluctuated by more than 1.1 percentage points. Meanwhile, consumer prices have also remained stable at about 2.1 percent per year.
China’s overall volume of economy was the world’s fourth largest in 2005. It was the sixth largest economy in 2002. The gap between China and the US, Japan and Germany – the top three world economies – has also narrowed in terms of gross domestic product (GDP).
As its economy has grown, China now contributes more than 5.5 percent of the world’s GDP, up from 4.4 percent in 2002. That is an evidence for the great and rapid development of the Chinese economy.
China’s booming economy also saw its per capita income cross the threshold of US$2,000 for the first time in 2006. According to World Bank standards, China should no longer be considered a low-income nation, as its per capita income now resembles that of a middle-income country.
While enjoying such rapid and stable economic growth, China has restructured its economy to increase the weight of its service sector in poorer western regions, the NBS said.
By 2006, the service industry accounted for 40.1 percent of the economy, as retail sales increased by an average of 12.2 percent each year in the four years.
Rural development
China has found it easier to develop its rural regions due to the growth of fixed-assets investment. These investments often reflect the potential for economy development in a region, and have increased faster in the middle, western and northeast regions. In 2006, for example, fixed-assets investment in the middle provinces accounted for 19.3 percent of the national total, 1.6 percentage points higher than in 2002.
- investment
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18 Responses
We live in realism so far as the World economy is concerned because the World economy has all the components co-existing in different countries: mercantalism economy nationalism, or economy libersalism, or marxism/ historical structure
But the US economy is largely one of economy/ economic liberalism or as close as it cam be because the US citizens have the maximum extent of freedom in choosing what to consume and where to buy from around the World, capital and goods and services move within and cross border with the least restriction, largest proportion of immigration population, free choice of occupation to US citizens, free exit and entry in most industries. Marxim historical structure is now only in history books. Economic nationalism is considered foolishness by consumers across the advanced world.
There will be a Revolution or Coup coming soon!
@BlameRepublicans ya nuff said you retarded fuck. More and more people are unemployed I can see this with my own eyes. The economy is sliding just like the value of the dollar. You are living a fantasy.
@BlameRepublicans dUnemployment is 9.7% …..Odumba said if congress passed the stimulus package that the Unemployment rate would not exceed 8%……the economy is coming back ?…..why because the DJIA is around 11,000 ?…….you live in a fantasy world
companies are getting a bailout to avoid going bankrupt after investing in dangerous securities. They were promised huge payoffs from thier investments. This expected increase in revenue lead them to increase their own investments. When the securities failed, it left them without enough money to cover their investments. The bailout is supposed to be used to help them get out of the red
This effects regular people because it is a lot of money that they have to pay out of their pockets. It also reduces confidence in the market. If investors see that their companies need government help to get out of a tough spot it may come off as a bed thing for future investments.
I hope this helps.
1. The bill is needed to stimulate consumption, and the one of the right object to spend the government money is fundamental fields.
2. Emphasis on strong fundamentals of the economy is encouraging investors and consumers to invest and consume more.
This is a very hard question to answer for me because I'm not sure if I should write additional explanations in economics. And, If yes, on how degree. For example, government spending can off-set economic leakages.
It's over 11 pm. It's time for me to go to sleep.
the us ecnomy is turnin the corner , what a joke with this baboon ape president we have
the us ecnomy is turnin the corner , what a joke with this baboon ape president we have
All you angry losers in the right wing can suck it. Joblessness is dropping, our health care reform passed, and the economy is coming back. Face it douche bags – you lose, we win. Nuff said.
It has made some Russian "entrepreneurs" very wealthy, while the general population is continues to struggle. No "trickle down" economics over there.
Sounds familiar?
it is hard to say whether an economy is overheated or not. If everything is under control or under manageable growing situation, then that is not in an overheating regardless how fast it grows. the economy of nation is always under adjustment constantly for pursuing the best balanced growth. financial liberalization is only a kind of economic adjustment which depends on the economic situation and economic strategy of a nation's further development. it may generate more growth, but does not have to cause overheating…overheat is actually a bubble blowing process, on the other hand financial liberalization may be a part of regulatory reinforcement and openness…
it was interrupted by the great EVIL of socialism… look at the other copies of this question you have already posted
I have been involved with international trade for over 16 years and study world economics as a hobby so please allow me to share some insight:
The U.S. dollar, still the benchmark for world currency, has been declining in value the past several years. A detriment to U.S. consumers and U.S. companies that import products, the weakening dollar benefits some players in the global marketplace.
Current economic factors that may be signaling recessionary conditions in the U.S. economy and could undermine confidence of U.S. dollar-based assets include the downturn in housing, turbulence in the equity markets and job woes. Additional interest rate cuts by the U.S. Federal Reserve could further erode the return of investors as lower interest rates may produce additional inflationary pressures, lowering the dollar’s value. Also, continued budget and trade deficits tend to weaken the U.S. dollar.
The weak dollar is encouraging foreign manufacturers to set up factories in the U.S., bringing jobs and other economic benefits.
The U.S. has the biggest impact on the global economy and its monetary unit value, and fluctuation has the greatest effect relative to other currencies. The value affects company profits, budgeting and manufacturing costs. It has ramifications on capital investment, plant openings and closings. For example, some companies that have outsourced customer service and call centers to India have returned these centers to the U.S., since the weak dollar has eroded the cost benefits of operating overseas.
As you can see, International trade is detrimental to our domestic economy as it decreases the power of the dollar which in turn affects your ability to afford things at reasonable prices.
When factoring all this in to your dream of owning a home, Im sure you can see that asset purchases like a home can become out of reach for many.
The solution is for Americans to start consuming less and producing or rather innovating more.
Instead of spending $500 billion on developing an apocalyptic defense systems, money should be spend on providing access to education so we can 'create' value that others will have to depend on for sustenance thus creating jobs, strong industry, and a strong dollar.
Im sure you've been told what your grandfathers quarter could buy at the time…something to think about.
Good luck on your paper!
If Congress ever gets tired of the financial games played by the fed, they can always quickly pass this legislation;
“It shall now become law that all of the assets of all banks who are members of the federal reserve shall be taken and given to the US govt and American people.
All federal reserve bank corporations shall now be nationalized and owned by the US govt. All active service members of the US military shall now receive 10 acres of land for free, and have their salaries doubled “
If Congress ever gets tired of the financial games played by the fed, they can always quickly pass this legislation;
“It shall now become law that all of the assets of all banks who are members of the federal reserve shall be taken and given to the US govt and American people.
All federal reserve bank corporations shall now be nationalized and owned by the US govt. All active service members of the US military shall now receive 10 acres of land for free, and have their salaries doubled “
(-: I think they should really mess things up, and give every American a half a million dollars (doesn't even have to be tax free). It'd give people a chance to vote with their dollars about what industries they want saved. And the gov't would get a bunch back in taxes.
Your plan doesn't cost 1.3 trillion, as far as I can figure. Yours would be 1,300,000,000,000, which is only 1.3 billion dollars. You'd need three more zeroes to get it up to a trillion. Three more zeroes would give every American 10 million dollars, and THEN your plan would cost 1.3 trillion (-:.
Hey, I'll take 10 million dollars, too!
Edit: Hmmm. "Oviously" you are one of those poor children who had to learn their mathematics via the New Math system. And your spelling through the New English system, maybe?
Let me give you a brief refresher course:
100 equals one hundred
1,000 equals one thousand
1,000,000 equals one million
1,000,000,000 equals one billion (in the US way of counting)
1,000,000,000,000 equals one trillion (in the US way of counting)
Now, stick THAT in your calculator and see what you get.
1,300,000,000,000 divided by
130,000,000
leaves you 10,000,000.
Poor baby; get a job. You'll need it. I hear McDonald's is still hiring, but with your math skills, I wouldn't be so ambitious.
BILLIONAIRE investment guru Warren Buffett has declared that the US recession has begun."We are in a recession," Mr Buffett said in a TV interview.
"Across the board I am seeing a significant slowdown."
Mr Buffett's analysis is supported by a string of data pointing to a contracting economy.
The latest figures show US manufacturing shrank at its fastest pace in almost five years while construction spending fell the most since 1994.
Scott Anderson, a senior economist at Wells Fargo, said: "The evidence is piling up that the economy is slipping into at least a mild recession.
"With the much higher food and energy prices and restricted credit, there are not a lot of avenues for consumers to continue to spend."
US home-building is in its third year of decline, and the collapse in housing is rippling through the economy as consumers pare spending and factories cut production.
The markets are betting the Federal Reserve will cut its benchmark interest rate by 0.75 percentage point at its March 18 meeting.
Fed chairman Ben Bernanke said last week the central bank, which has lowered the key rate by 2.25 percentage points since September, was ready to continue cutting borrowing costs if needed to stimulate growth.
He warned that risks to the outlook included "the possibilities that the housing market or the labour market may deteriorate more than is currently anticipated and that credit conditions may tighten substantially further".
Shares in Mr Buffett's main listed company, Berkshire Hathaway, rose 29 per cent in 2007 and about 4700 per cent over the past 20 years, six times the rise in the Standard & Poor's 500 Index.
Along with insurance operations and a stock portfolio valued at $75 billion, Berkshire owns businesses ranging from confectionery and residential property to utilities and corporate jet leasing, giving Mr Buffett an insider's perspective on the economy and finance.
In last year's annual letter to shareholders, he said his method was to "be fearful when others are greedy, and be greedy when others are fearful".
Source:
http://www.news.com.au/heraldsun/story/0,21985,23320376-664,00.html
the us ecnomy is turnin the corner , what a joke with this baboon ape president we have