In Tokeyo, fiqures have shown that China has now overtaken Japan as the world's 2nd largest economy. At the end of 2010 Japan's economy was worth $5.48 billion and China's has grown to just over $5.8 billion. A economist from Beijing has said it is realistic to say China's economy will be equal to the US in around a decade.
I assume that you mean trillion? Who didn't see this coming? Japan has been essentially capped out in terms of material land growth, whereas China has seen nothing but for the last 20 years. In any case, China is still accounting for less than 50% of US or Eurozone GPDs, so there's no big worry. Also, since China's GDP is growing so fast, they will have to make a choice in the near future of whether or not to continue manipulating the RMB. It's expected to appreciate something like 20% in the year, which would cut the US trade deficit at least in half. Of course, China wouldn't be too happy with losing their only competitive edge, so it's doubtful they will allow it to float.
There is plans to create a more economical freindly economy, as the coal is very iniefficent. As for the average poulation- you still got 1/2 the nation's land unpoluted. I belive that China is only about 9th out of the world of the most polluters.
Lawl, here is what should happen, USA should declare war on China with support of Japan and take over them rofl jk, If that were to happen WWIII would happen and all of us would be at wa with like England, France, Germany, etc... Since we didnt have reason to have war
If you think the Chinese are running a communist economy, there's a few books you should probably read... Well here's the thing, in GDP per capita China is 127th in the world at $7,400. So as their overall economy is growing, it's not really translating to large scale economic well being in their interior. Their coastal regions are becoming highly developed, but the interior is a massively agrarian and impoverished region. Also whoever talked about the Chinese dollar being pegged to the US dollar raised a good point. You're going to see a lot of the trade deficit disappear, when the Chinese gov't stops manipulating their price controls. Ps, for some of you guys newer to all this prob the two best/handiest resources for this kind of data are the http://www.worldbank.org/ and https://www.cia.gov/library/publication ... index.html .... Additionally, the economist and foreign affairs run periodical high level academic articles on a variety of topics to include the issues discussed here.
It was only a matter of time before the PRC achieved global economic dominance. Its almost ironic because in exporting the manuafacture of goods to Asian countries to save money for western companies has made the Chinese trillions. All hail our new communist masters.
Indeed, industry and growth is focussed around China's coastal areas, especially the south eastern coast due to the establishment of Special Economic Zones. Average wealth isn't great. Though in regards to growth around coastal areas I can think of very few non coastal cities (including cities that have grown around rivers, due to sea trade) that have grown at such a rate. Also worth noting the massive western influence in port cities (or treaty cities) following the collapse of Chinese Imperialism. While most of China's settlements were built around Confucian principles, treaty cities were not. These shared non of the traits seen in the older Chinese cities and had much more in common with Western settlements. For example Shanghai, whose water front is lined by old wealthy western housing of western style in architecture. We were given a brief talk by some very nervous Chinese teachers who happened to be visiting our 6th form back in the day. Apparently increasingly large amounts of the Chinese populace are training to be "white collar" workers even though the majority of work is still "blue collar". I was under the impression that by the time we get to 2050 India will have over taken China in both population and wealth?
To quote Mr. George Carlin: "Stick around. China's gonna win it all." Too bad he's not alive to see his prediction come true.
China uses cheap labor and manipulated currency on top of large government investment in infrastructure and just huge amounts of people and resources. Chinese growth began with Mao and his soviet styled state planned economy. That got the infrastructure ball rolling with nearly 70% of the budget going into that and industry. Deng started the market economy reforms that opened foreign and domestic capital to start building large corporations and industry leaders. He also pushed form more centralized heavy industry and vertically integrated industrial complexes. China will grow a lot and vastly over take most of the world but the growth spurt will burn out and the bubble will pop. When that happens political unrest will likely cause their economy to slow down significantly.
I wouldn't go so far as to say the Chinese government is more right wing than the Republican Party. Some statistics from the Index of Economic Freedom to put this into perspective: http://www.heritage.org/index/ranking China is 135th, and for reference is about 43 places above Cuba, which is almost at the bottom. So no, China is certainly not the free market paradise some make it out to be.
