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Chinese Economy

By Edited Nov 13, 2013 0 0

China is a large nation which is now the most populated country on Earth. It has one of the world's oldest civilations and the longest continuous. China has had a large cultural influence on the whole of East Asia as their customs, religion and writing systems have formed the base of those used by China's neighbors.

Throughout history, China has contributed many important inventions to world society. Gunpowder, papermaking, printing and the compass are four major additions made by citizens of China. There have also been substantial advances in crafts, metalurgy, sciences and munitions by the Chinese. Some of the earliest Chinese developments, such as bookmaking, were known only in China but were subsequently discovered in other countries. Chinese factories have been established to manufacture many of the world's consumer products and those used by industry. The quality of goods is generally excellent and continues to improve. Chinese service quality is legendary for it's speed and attention to detail. Recent attention to manufacturing deficiencies should reduce the incidence of published reports of defective products and contaminants introduced into foods.

China is a vast land, rich in natural resources and beauty with many architectural wonders created over the ages. Some of the creations are incredibly old and have craftmanship that is rarely equalled by modern construction. The Great Wall of China is an example that shows engineering skill in place for over 2200 years but which was based on Chinese techniques developed almost 3000 years ago. The Great Wall is known as the only man-made item visible from overhead space craft.Many of the architectural wonders were crafted into the landscape to provide a balance of form and function that works perfectly.

Economically, China has prospered since about 1978. Development has been frenetic since then due to liberalization of the economy and a massive amount of foreign investment. Because of industrialization, China has become the world's largest producer of concrete, textiles and steel. China is also now the source of many of the manufactured goods used worldwide. The domestic population has also prospered during the same time period. With increased wealth, the people have enjoyed access to goods and technologies scarcely imagined by their ancestors. As of 2011, the Chinese government has examined the possibility of slowing the economic growth to a more sustainable level. It is, however, difficult to determine this value. A growth rate of nearly any amount translates into very high values given the current size of the economy. Various estimates say that the Chinese economy, already the second largest in the world, may become the largest in the world by about 2030.

The future looks bright for China. They have a huge population that is intelligent, capable and eager to improve the country. They can work within the current economic conditions and adapt to future changes. Due to near constant growth during the past 30 plus years, China has become one of the economic superpowers of the world. It is likely to
be the main driver of the world's economy for many years to come.



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