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ECONOMY AND POLITICS

China

CHINA

Situated in eastern Asia on the western shore of the Pacific


Ocean, with an area of 9.6 million square kilometers.

The population is at 1.39 Billion as of July 1 st 2014 which is


equivalent to 19.24% of the total world population.

Capital Beijing

Official Language Chinese

Ethnic Group Chinese Han 91.59% / Other 55 minorities 8.41%

Religion:

Primary Buddhist

Other Islam, Christianity & Taoism

POLITICAL SYSTEM

HISTORY

Was a nationalist government1927 to 1948, led by the Kuomintang


(KMT) party

1949 - With the wide and mass support of the peasants and workers,
Mao Zedong defeats Jiang Jieshi and creates The Peoples Republic of
China. The Nationalists flee mainland China to Taiwan, creating Two
Chinas. Communists create a one-party state led by Mao Zedong

Begin Reforms:

All resources are directed toward political, social, and economic growth

Improved medical supplies and hospitals

Schools built

Regulation of all media (press, writing, speech, etc.)

GOVERNMENT
China's government structure is similar to Western parliamentary systems, with
both a president and a prime minister appointed by a parliament and a semiindependent judiciary:

PRC President and Vice President control over the PRC government.

The State Council, with its ministries, bureaus, commissions, and agencies, serves
as the administrator and regulator of China's day-to-day government functions
and is headed by Premier.

The National People's Congress, China's parliament, ratifies laws and holds
oversight and appointment authority for the State Council and courts. The NPC
largely functions as a rubber stamp for party decisions, though it is increasing
both in size and stature.

The Chinese People's Political Consultative Committee (CPPCC) is a parliamentary


advisory body.

The Supreme People's Court and Supreme People's Procuratorate are China's top
judicial organs.

GOVERNMENT STRUCTURE

POWERS OF THE PRESIDENT

The power of publicizing laws. Laws adopted by NPC or its


Standing Committee shall go into effect only after being
publicized by the president, which is the last act in the
legislative processes in the People's Republic of China.

The power of issuing orders. The appointment and removal of


the premier of the State Council, the issue of the order of
special forgiveness, the proclamation of martial law, a state
of war and general mobilization can only be made or
announced by the president.

The power of making appointment or removals

The power of granting titles

NOTABLE POLICY

Population Control
Little regulation during Maoist years; 1978 population close to a billion
One-child family policy

State-sponsored family planning added to the constitution


Ideal family had one child
Most couples required to stop childbearing after one or two births
Married couples in urban areas restricted to one child
In rural areas, married couples are subject to rules that differ across provinces. In some, two
children permitted. In others, only one child permitted; in most provinces, a second child is
permitted only if the first is a girl.
Difficult to implement; many sons ideal: a married daughter joins the household of her husband,
while a married son remains in the household to support aging parents.

Perverse outcomes
Shortage of girls
Sex-selective abortions

http://www.worldometers.info/world-population/china-population/

ECONOMY OF CHINA

SOCIALIST MARKET ECONOMY

an economic system in which industry and commerce are


run by private enterprise within limits set by the
government to ensure equality of opportunity and social
and environmental responsibility

ECONOMY HISTORY

In 1949 it followed a socialist development strategy focused


on heavy industry. Consumption was reduced while rapid
industrialization was given high priority. The government
took control of a large part of the economy and redirected
resources into building new factories. Entire new industries
were created. However, small to large private sector
businesses were suppressed and capitalists were severely
fined or punished. Meanwhile, agriculture was forced to
depend on its own minimal capital resources for a
significant portion of its funding.

by the late 1960s, the country was in the throes of an


economic and humanitarian disaster.

With Liu Shaoqis new policy of restoring private plots, reducing the
size of the collective farm and giving greater independence to
private producers, there was a mass transition of the unemployed
from industry to the countryside, and industrial investment was
temporarily slashed in order to free resources for farm production.
This policy led to an immediate improvement in the agricultural
situation, and industrial production and construction also gathered
some momentum.

Since 1979, China has embarked on a new era of unprecedented


development by applying major reforms to its economy. The
Chinese leadership adopted a pragmatic approach to many political
and socio-economic problems, and sharply reduced the role of
ideology in economic policy to build a Socialism with Chinese
characteristics. Political and social stability, economic productivity,
and public and consumer welfare were considered paramount and
indivisible. The government also focused on foreign trade as a
major vehicle for economic growth. Reforms began in the
agricultural, industrial, fiscal, financial, banking, price setting and
labour systems.

CURRENCY

Name - Chinese Yuan Renminbi

Symbol:

The Chinese
government wish
to keep the
currency
undervalued

ECONOMIC SECTORS
Every economy of a country comprises of the following
three sectors

Primary Sector Agriculture

Secondary Sector Industry

Tertiary Sector Service

PRIMARY SECTOR OF CHINA


Agricultural products

Rice

Wheat

Potatoes

Corn

Peanuts

Tea

Millet

Barley

Apples

Cotton

Oilseed

Pork

Fish

SECONDARY SECTOR OF CHINA


Industrial products

Mining and ore processing

Iron, steel, aluminum, and other metals

Coal

Machine building

Armaments

Textiles and apparel

Petroleum; cement

Chemicals

Fertilizers

Consumer products

Food processing

Transportation equipment including automobiles

Telecommunications equipment

Commercial space launch vehicles

Satellites

TERTIARY SECTOR OF CHINA


Services provided

IT

Telecommunication

Many other

GROSS DOMESTIC PRODUCT - 2013

The GDP in China was worth 9240.27 billion US dollars in 2013. The GDP
value of China represents 14.90 percent of the world economy.

GROSS DOMESTIC PRODUCT - 2013

SECTOR CONTRIBUTION TO GDP

ECONOMY SECTOR CONTRIBUTION


COMPARISON

LABOR FORCE

Total labor force comprises people ages 15 and older who


meet the International Labour Organization definition of the
economically active population: all people who supply labor
for the production of goods and services during a specified
period. It includes both the employed and the unemployed.

UNEMPLOYED LABOR FORCE

In 2012, approximately 9.2 million people in China had been unemployed.

DISTRIBUTION OF LABOR FORCE TO EACH SECTORS

EXPORTS

Total value of exports: US$2.12 trillion

Primary exports:

Computers (9.9%), Broadcasting Equipment (5.2%), Telephones


(4.3%), Office Machine Parts (2.2%), and Integrated Circuits (2.0%)

Primary exports partners:

United States (19%), Hong Kong (11%), Japan (8.3%), Germany


(4.4%), and South Korea (3.7%)

IMPORTS

Total value of imports: US$1.41 trillion

Primary imports:

Crude Petroleum (14%), Integrated Circuits (7.6%), Iron Ore (5.3%),


Gold (3.6%), and Cars (2.9%)

Primary imports partners:

Japan (10%), South Korea (9.3%), Other Asia (8.1%), United States
(8.0%), and Germany (6.0%)

BALANCE OF TRADE

China recorded a trade surplus of 594.88 USD Hundred Million in May of 2015.

Highest record of 606.19 USD Hundred Million in February of 2015 and a


record low of -319.71 USD Hundred Million in February of 2012.

THANK YOU

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