Question

Anybody can find the accurate data about China economy?

GDP per Capita (constant US$) and GDP growth rate

State whether the countries are developed, developing or underdeveloped.
Include the reasons for your decision. To do this you should research the economic background of your country (CIA factbook is a good site to use) and look at your GDP per capita. A good starting point is to show your country’s data on the one graph.   

Show the growth rate of your countries on a graph. Discuss the growth rate of your countries during the last 10 years. Compare and contrast what has happened in the economies of your countries. Where would you place them on the business cycle?

Anybody can find the data on the Unemployment rate (modelled ILO estimate) or Inflation rate (CPI) over the same time period in China

Present the data in a table and draw a graph and compare the statistics on unemployment or Inflation over the last 5 years.

Answer 1

China is the world’s second largest economy, having overtaken Japan in February 2011, and has consistently maintained its growth and development. The market reforms implemented by China over the past two decades have greatly impacted the country and the world as a whole.

The country has maintained strong economic growth, with an average GDP of 9.33% during 2006–16. The financial crisis of 2008–09 led to a global economic downturn, and China’s growth rate dipped to 9.39% in 2009 from 14.23% in 2007, before recovering marginally to 10.63% in 2010. Growth dropped again to 9.54% in 2011 and 7.85% in 2012, partly due to the lingering effects of the Eurozone debt crisis, which hampered exports. In 2014, China’s growth dipped to 7.29%, down from 7.76% in 2013. China’s slowdown was mainly driven by weak global demand, decelerating investment, and sluggish property market. However, the government is taking measures to boost domestic consumption in order to make the country’s economy less dependent on exports and investment. In 2016, the country recorded its slowest growth rate post 1990 at 6.70%, following a 6.9% in 2015.
In 2017, growth rate was 6.9% as expected.

As far as the unemployment rate is concerned, the unemployment rate has hit its lowest point in multiple years at 3.95 percent by the end of September, but employment still face challenges as the economy pushes ahead with structural reforms. China’s official unemployment rate has remained generally stable as economic growth has dipped to a 26-year low and the government forges ahead with ambitious plans to cut back on industrial capacity.