China Economy by David O. and Billy Lau

Category: Globalization

The Economy of China is the 2nd largest in the world in pure parity value. China only trails the United States. The GDP of china based on the PPP basis is 10.21 trillion in 2006 with a 11.4% GDP real growth rate.
China is charecterized by its huge work force totaling approximately 803.1 million with its divisions in agriculture: 43%
industry: 25% services: 32% (2006 est.) China has a annual consumer inflation rate of 4.7% and is a huge market for commercial goods. China is predominantly a worker economy and has many factories producing goods. Many companies source their products from China and are made in China and then shipped to other parts of the world.

China has and is playing an enormous role in globalization in which it is one of the main sources in supplying companies and consumers with low cost products all over the world. China's population numbers over 1 billion giving it about one-fifth of the world's population whioh allows for a humungous labor force within the country. China's markets have expanded at great rates giving the country enormous wealth. China is currently gaining tremendously in the process of globalization.