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Undecided - Assignment Example

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"Every country’s economy is intertwined with every other country’s economy", that is what Catherine Rampell argues in the New York Times in September 24, 2008 issue. Chinese economy has also affected considerably due to financial crisis that set in 2008 in the US and then…
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Download file to see previous pages... ese economy has grown at the phenomenal rate in last two decades; however, GDP growth rates between the year 2010 and 2014 has been falling consistently after touching close to 12%
In spite of the over 7.5% GDP growth rates between 2010 and 2014, unemployment rates in China remained between 4 and 4.3% in last four years. Reduced exports create huge impact on unemployment rates; that in turn, affect GDP of the country. Not only that but also it results into lower private sector investment in the country (Marcelis, 2008). In 2009, China’s exports continued to decline month after month. While in March, 2009, exports were down by 17.1%, it declined further in the month of April by22.6%. The following chart shows how exports were affected between 2008 and 2009.
Consequent to this, private investment declined considerably; however, intervention from the Chinese government in the form of stimulus package provided some respite to the economy. Fan Jiaping, the economist from the State Information Center, remarked then, "Export demand doesnt show any signs of turning for the better" (Batson, 2009).
The following chart suggests that in the beginning of 2010, the inflation rate was negative in China that subsequently rose to the level of around 4% in 2012; however, since then after touching nearly 1% in the middle of 2013 it has again rose to the level of above 4%. This surely does not augur well for the economy, currently.
As per Jeffrey Towson and Jonathan Woetzel, six mega trends are changing economy and business of China and they are: Huge manufacturing sector, burgeoning foreign exchange reserves, over 400 million strong Chinese consumers, huge spending on education, urbanization in a large scale, and information technology. The Chinese economy produces 90% of the worlds personal computers, 80 percent of the worlds air-conditioners, 90 percent of the worlds mobile phones, and 70 percent of the worlds solar panels. Manufacturing contributes to the 40% of the ...Download file to see next pagesRead More
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