scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,708
Economic Growth China China is classed by the World Bank as a lower middle-income country Chinas real GDP grew at a rate of 91 in 2003 up from 80 in 2002 meaning that even economic growth is increasing rapidly in China Chinas GDP growth rate is even faster than the US and has enjoyed some double-digit growth rate since it has opened to economic reform This rapid growth had brought opportunities and challenges - both for China and for the rest of the world - PPP GDP - 65 trillion US second in the world - PPP GDPcapita - 5 000 US -GDP - 146 trillion US -GDP growth - 94 -GDPcapita - 1 100 US - GNI - 14 trillion US - GNIcapita - 1 010 US - Exchange rate - 828 RMB for 1 US 1024 RMB for 1 Euro This is an economy with much catching up to do Continued rapid growth will be essential if poverty rates in China are to be reduced further The challenge for the Chinese authorities is to ensure that growth rates are sustainable over a long period of time if they wish to continue reducing poverty rates in the country But China is undergoing some major and sometimes painful restructuring due to - Larger gap between rich and poor - Large debts to pay off to several countries Australia Australia has an enviable Western-style capitalist economy with a per capita GDP on par with the four dominant West European economies Since the recession in 1990-91 GDP has grown in Australia every year Growth in 1991-92 was relatively low 03 by 1995-96 it had accelerated to 42 a growth rate which was generally maintained until 1999-2000 GDP growth has fluctuated since then at 20 in 2000-01 39 in 2001-02 and 28 in 2002-03 - PPP GDP - 5714 US billion - PPP
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA