Economics: Chinese Economy - Essay Example

Client's 29 October 2009 This paper will comprehensively provide an insight on the Chinese economy and how it has shaped up over the last few years. This paper will expansively present the present condition of the Chinese economy as well with the help of diagrams and tables.China has Achieved double digit GDP growth, the average growth is well above 10%. The GDP of China is roughly about $ 7.8 Trillion. This unprecedented growth has also come at a price; China has become one of the top emitters of carbon dioxide.

This greenhouse gas is a major contributor towards Global Warming. The annual average air temperature in China has undoubtedly increased over the past 50 years. There are many more factors that are affecting the climate conditions in China. China is frequently experiencing extreme climatic conditions, Sichuan earth quake is a classic example of the same. Northeastern and Northern China has experienced drought and these adverse effects will not stop until some precautionary measures are taken.

Renewable energy has helped China in sustaining the growth. Nuclear electric power has also been a telling factor in the growth of China. "Hydroelectric power has also played its role in the growth of China. Coal fired power plants serve about 70% of China's energy consumption." (Uranium Stocks). Coal is abundantly available in China and the same has made a difference. Coal power plants in China are the largest contributors towards pollution. "It is believed that reduction in emission will directly affect the GDP growth of China.

The loss is predicted to be about 1-1.8% in GDP between 2013- 2025. There is no proper substitute of coal and replacing it would hamper the economic growth, this is the wicked problem that is severely affecting China." (Barett)(Rittel)To sum it up, it is very fair to say that China has made tremendous economic growth but it has come at a very hefty price. China is one of the top three nations when it comes to the top contributors towards global warming. This growth is conspicuous and it is expected to pick up but it should not come at such a hefty price.

The Chinese government should take preventive measures in order to ensure that China remains an eco friendly country. China is a very wonderful country as far as the growth and other progressive things are concerned, it is attracting a lot of attention and it has also become a hub for foreign investment. More and more people are readily agreeing to put their money in China, this goes to show that the future of the country is looking very promising and the growth is going to be unprecedented. China is also giving a good run for its money to the US and it is very closely competing with the economy of the US.

It is predicted that the Chinese economy will be the number one economy in the world within a few years. It is already showing very promising signs and it will not be surprising should this become a reality. ReferencesBarrett, S. (2002). Environment and Statecraft. Oxford: Oxford University Press.Rittel, H.W.J. and Webber, M.M. (1973). Dilemmas in a general theory of planning. Policy Sciences, Vol. 4, 155-169, Elsevier Scientific Publishing Company, Inc., Amsterdam. Societe Generale. (2008).

In Fleet Street. Retrieved on 29 October 2009 from: http://www.fleetstreetinvest.co.uk/shares/ukshares//media/Images/FleetStreetInvest/ArticleImages/oneoffs/china_gdp.ashx Uranium Stocks. (2009). In Content. Retrieved on 29 October 2009 from: http://www.uranium-stocks.net/wp- content/img/2007/07/chinapoll.gif