Question

ABOUT CHINA

IT'S

1)degree of openness

2)main X

3)main M

4)GDP

5)GNP

6)HDI (total and by each dimension)

7)GNH

8)Gini Index

9)Green GDP

10) stocks of capitals (natural, intellectual, others if possible)

all info should be

* over 20years

* graph the indicators in the last 20 years approx.

11) Assess the economic performance of this country and its sustainability.

12) further information to complement the profile of the country

12 questions to answer about China

Answer 1

1) Chinese economy is a socialist market economy and its journey started for this type of model in 1980's and China has opened their economy to foreign companies, foreign investment, individual ownership of the companies and its economy is a good mix of state enterprises and private industry and its economy is market forces driven economy and due to that it is now open to FDI(Foreign Direct Investment), Joint venture between foreign companies and domestic companies, individual ownership of companies and market forces are driving its economic growth and due to that it has progressed a lot in the last twenty years and its economy is export oriented economy.

But due to slowdown in the world market and change in the model of its economy from export oriented to consumption driven its GDP has declined and its economy is now under correction phase and share of its services sector in its GDP is increasing than manufacturing sector.

2) main X- Chinese economy for the last 20 years has been a export oriented economy and its driven by export and its economy is largely dependent on outside market/world demand for its exports and due to this its economy has grown with double digit growth but during the last many years its GDP is declining and is under single digit and same is due to slowdown in the world economy/recession and resultantly its declining exports and due to its declining exports it has huge amount of surplus with it than demand.

3) main M: China is basically a export driven economy and its imports are less than its exports and it has favorable balance of trade with most of the nations, be it USA, India, etc. and reason for its low import is due to its local production of goods and developing nature of the economy and low purchasing power of its people. Chinese economy is now changing itself into a consumption economy and that's why its imports are also declining and it is becoming more like a self sufficient economy.

4) Its GDP is declining from double digit to single digit and for the last many years it is growing with single digit growth and now its GDP is hovering between 6% to 7% and it is due to slowdown in the world market, recession, low global demand and change of growth model of Chinese economy from export driven growth economy to consumption led economy and share of its services sector is increasing in its economy than manufacturing and it is more becoming as consumption led economy and self sufficient economy.