Tuesday, January 10, 2012

Present situation in China

In last years Chinese economy has grown clearly. Everything has been for its great industrys and big exports all over the world.

Among the products that China has developed strongly are high technology products, such as cars, personal computers, phones, DVD players, televisions... and also other products like clothes, footwears, furnitures and toys.

China is fundamental in the global economy and the development of other economies as well as producer and consumer in big quantities because it represents 30% of global consumition of coal, cotton, rice and steel.

Its industrial production, exports and investment grew the Chinese economy by 9.1% in 2003, the highest rate since 1997.

In 2004 China imported about 40% of the oil on the world market, becoming the second largest oil consumer after the United States.

At present, China overtook the United States in consumition of food, raw materials, energy... therefore per capita income in China has increased rapidly.

But not everything is of pink colour for China's economy. The main current weaknesses of it economy are:

- The financial sector, for the amount of unrecovered loans that banks have.
- The rise in unemployment and underemployment.
- Environmental pollution.
- Territorial inequality.
- The aging population.


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