“China Today: Economy and Politics” Final Paper

CHINA TODAY: ECONOMY AND POLITICS FINAL PAPER
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The economy and political power of China is growing rapidly, China is considered among the countries that are doing well not only in the economic sector but also in politics. According to the economy of China, it is ranked as the second in the world with the highest gross domestic product (GDP) and high purchasing power, this is an indicator to display how healthy is the economy of China and the income revenue it pockets. However, experts claim that the country’s economy is slowing in recent years with more state-owned banks experiencing bad loans. These developments of the economy is a result of the public sector having a bigger portion of the share than the private sector from the outside investors, due to big share of the economy a lot of revenue realized is retained in the country for the development. In particular, the Belt and Road Initiative (BRI) project has facilitated the country’s massive economic growth in recent years.
China is considered to have massive natural resources such as coal, rare earth metal among others which have contributed to the growth of the economy by selling them, the natural resources are estimated to be $ 23 trillion. China has the largest number of billionaires with an estimated wealth of $ 999 billion and largest companies in the world with most of their headquarters are based in China, these wealth possessions have influenced China positively to their economic growth. China as a nation is rated as the largest manufacture economy, exporter and second largest in the importation of goods. China is well known for the manufacturing of a variety of types of equipment such as cars, kitchen utensils, types of machinery, technology invention among others.
These products are exported to many countries as it has the largest market network around the world in exchange for revenue which is invested to develop the country economy. On the same note China also has the largest importation of resources and various tools which necessitate developing the nation. Due to well business performance, China has registered itself in World Trade Organization, which has enabled China to have a free trade around the world with several nations such as Switzerland, Pakistan, New Zealand, South Korea, and Australia. The Chinese nation has more industries in the production of end products and also the creation of employment to its citizens and job seekers. These industries help in the growth of the economy and political powers
China has the largest stock exchange that is Shanghai Stock Exchange and Shenzhen Stock Exchange with market capitalization and trade volume. According to global competitive report, China has the highest labor force of about 789 million workers in 2018, the country has promoted employment to job seekers to cut of issues of immoral behavior such as corruption these laborers also have a great influence in the growth of the economy. As a result of more industries in the nation there is pollution of environment either by emitting out excess carbon dioxide and spilling of waste products to the environment, Nicholas stern and Fergus green have suggested the economy of China be shifted to plan out a more advanced equipment's to control the impact of heavy industry in destroying the environment.
In China women are given an opportunity in the participating in the workforce, this is as a result of labor division and gender in the country. The political system in China which is a non-democratic and authoritarian political regime has influenced much in the development of the economy, in various ways the planned economy of China has elevated the economic growth because the government has all rights in decision making. Since the death of Mao, the government has been following a series of five years guidelines which enable it to legislate any reform it feels like. Strong leadership in the nation has been a factor, which has resulted in the development of China economy. Chinese politicians are said to have a great portion of responsibility to the nation than them. There have been recent protests in Hong Kong to restore democracy though the endings are unknown. Free market isolation is also another attribute behind the success of China. Deng Xiaoping, who was a successor of Mao, fought to bring an end to China's relative economic isolation after taking power towards the end of 1978.
A special economic zone that opened a platform for foreign investment in China, the government rules and regulation favored the foreign investors to venture into the country for business and also attracted investors to trickle in. the government reduced the tax imposed for the investors to establish their business example of foreign investors is Taiwanese TNC, EUPA which manufactures tea in Xiamen. Private enterprise, for so many years all the manufacturing enterprises in China were owned by the government but currently, these aspects are diminishing as 50 percent of the businesses are privately owned. While privatization is strictly denied as an official policy, the concept is making sense in some areas as a profit-making approach. Since 1990 China has been developing in its source of energy with hydroelectric and nuclear power plants. China also is in the process of utilizing its coal to generate electricity and also to imports from Australia and Indonesia.
Investment in infrastructure, the government of China has invested heavily from the revenue realized in the country on roads; improve rail systems which made China a well-developed country in the world. China has also five of the ten largest container ports in the world located in Shanghai and Shenzhen, ranking it at second in the world as the developed nation. Education attribute, the level of literacy China has greatly increased compared to the past years, China has both unskilled and skilled workers in the country it's said that in every year China trains 600 new engineers who in turn promote economic development with their skills. Going global, China has started invested in foreign countries to increase its market network and also increase revenue income. China has bought companies in North America and Europe, China's expenditure in buying foreign companies was estimated to be $ 56 billion with inward foreign direct investment (FDI) estimated to be $ 60 billion per year.
China has a great wealth of natural resources such as oil, coal and natural gas which is used in the fueling of the industrial development of the country. However, due to a large number of industries in the country and population, China imports resources such as oil, gas coal, gas, copper and other commodities, that made it be ranked as the world importer. Labor supply in the economy is sufficient, according to research it's said that there is rural-urban migration of people searching for employment these has made the city to experience high population rate and building up of more houses...