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The rich gets richer, while the poor gets poorer.
Dorcas Hauck
Wiki User
∙ 9y agoChina changed its economy by shifting from mostly agrarian industries to electronic and equipment manufacture. The economic policies of importing less and exporting much also helps China's economy to thrive.
Wiki User
∙ 12y agowith all of our money that's why the u.s. is in debt because we still owe them money
By lifting restrictions on their own economic activity's. In effect by allowing entrepreneurs to make a profit. They were poor so had a cheap labor market and the people in the developed country's were happy to pay the lower prices for the goods that were being produced in China.
Wiki User
∙ 12y agoIn 2010, China's GDP growth was 10.456 percent, totaling US$ 5,745.13 billion, and is expected to increase 11.79 percent in 2011 to US$ 6,422.28 Billion. Forecasts for 2015 predict China's GDP to reach US$ 9,982.08 billion, growing 10-12 percent per year between 2010 and 2015.
China's economy is huge and expanding rapidly. In the last 30 years, the rate of Chinese economic growth has been almost miraculous, averaging 8 percent growth in Gross Domestic Product (GDP) per annum. The economy has grown more than 10 times during that period, with Chinese GDP reaching 3.42 trillion US dollars in 2007. China already has the biggest economy after the United States and most analysts predict China will become the largest economy in the world this century.
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What was china's economy ranked at the beginning of the twenty-first century?
At the very beginning of the twenty-first century, China's economy didn't rank very high. In the very first year of the century however, China entered the World Trade Organization and began to see sharp increases in their earnings and saw a growth of 7.3% in just that year. By 2011, China was the world's second largest economy.
Capitalist economy operates somewhat independently from china in what city?
Hong Kong
To what country does Manchuria belong today?
China.
What does cuba depend on to keep its economy going?
Cuba depends mainly on its famous cigars , sugar and help from China and Russia to keep its economy going.
When did China stop being communist?
By the formal definitions of communism, China was never a communist state because control of social resources had not fallen into the proletariat nor had class divisions been removed. In effect, China was a state-led bureaucratic state which, economically, was centrally-planned. This central-planning partly discontinued during the late 1970s and has continually slowed to the modern day.
Is China better off today?
Some people believe that China is better off today because of a growing economy. Some people believe that the growth of the economy is destroying the culture of China, so this is a matter of opinion.
What are two leading countries in today's world economy?
By nominal GDP: U.S. and China. By PPP GDP: U.S. and China.
What do most countries economy depend on today?
20% of china's exports go to the US
Does China have an economy?
Yes, China has an economy.
What is the world's second largest economy?
The Peoples Republic of China has the second largest economy in the world. This remarkable compared to the Chinese economy of say, 30 years ago. China's economy of today is vastly different than in the years when it was considered a purely Marxist economy and private holdings were at a minimum. China now has a mixed economy and a stock market. When China was under the rule of hard line communists, the economy was in bad shape compared to may others in the world.
Does China have a market economy?
No, china does not have a market economy!
Who controls china economy?
china can control our economy... i was in china and i was in a security economy control center and i asked a few questions... yes china can control it's economy...
Chinese Economy Today?
China is the world's second largest economy by nominal GDP and by purchasing power parity after the United States. China is also the largest exporter and second largest importer of goods in the world.
Why does socialism work for China?
In today's China, the old form of socialism, meaning total ownership of the means of production, has slowly been eroded. The Chinese Communist Party still controls the politics and economy of China, however, parts of China's economy have been changed to a more mixed economy. I emphasize "parts". One example of a non socialist China is the stock exchange in Shanghai.
What is ancient china's economy?
ancient china's economy is comunist
Russia is strong or China is strong?
they are both powerful today, but china is a bit more powerful because it has a betetr economy, education system, and more influence in the world.
Where can you do qigong?
I believe you have a better chance to find one real master of Qigong among overseas Chinese than in China. China is today nothing but an emerging economy.
