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The developing country of China is a socialist economy that ranks the topmost position in terms of manufacturing and mining that enhanced the scope of exports and imports. The economy of China is recognised as the largest expanding consumer market mainly due to its highly…
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Download file to see previous pages ehaviour of the customers increased that proved extremely effective for the operating industries such as agriculture, consumer products, mining, automobiles, luxury goods, telecommunications etc.
Thus, from the above figure, it might clearly depicted that the growth of GP per capita proved extremely effective for the country of China that amplified its brand image and reputation in the globe among other developing countries (Trading Economics, 2014). In terms of education, the gross enrolment ratio (GER) for China is quite high, whereas the rate of unemployment is quite low as compared to other developing and developed countries, both are presented below:
The rate of inequality reduced significantly within the economy of China due to improvement in the gross domestic products and gross per capita income of the citizens. However, due to certain factors such as urban-biased polices, inland-coastal inequality, education and demographic changes, the rate of inequality enhanced significantly. In the economy of China, the rate of developed in urban areas is extremely high as compared to rural areas. As a result, the income distribution of the citizens in urban areas is also extremely high that resulted in inequality (Trading Economics, 2014). Similarly, scope of education is extremely low for the aging population that is also responsible for increasing the rate of inequality in China.
The country of China is a socialist economy but not authoritarian in nature. The party that rules China in recent times is named as ‘The Peoples Republic of China’ that enhanced the economic prosperity of the nation (Britannica, 2014). Not only this, the People’s Republic of China improved the development of the nation by amplifying the per capita income of the citizens that amplified their living standard and life style (Indexmundi, 2014).
China is recognised as one of the popular developing countries in the world. This is mainly due to its rapidly expanding GDP rate and GDP per ...Download file to see next pagesRead More
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