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Economical Development of Chine - Literature review Example
Finance & Accounting
Pages 6 (1506 words)
Economical Development of China Literature Review Contents Economical Development of China 1 Literature Review 1 Contents 2 Literature Review 3 Reference 8 Bibliography 9 Literature Review China is one of the fastest growing developing countries in the world…
From the 1979 to 2005, the GDP of China has grown at an average of 9.6% annually (Morrison, 2006, p.3). At this pace at the end of the year 2010 China has became the second largest economy of the world after the United States. Before the year, the economy of Japan was the second largest economy. During the financial crisis, the export business of Japan has decreased but in the other hand the manufacturing industry of China has grown. The pace of economic growth of China has made the analysts to forecast that China will replace the United States as the largest economy of the world (BBC, 2011). The economic prosperity of a country can measure by the per capita personal income of the people of the country, the employment growth of the country, the population growth of the country, the average educational qualification of the people of the country (Muskegon Area Sustainability Coalition, 2012). For developing a country, it is necessary to develop all the parameters, which has mentioned earlier by the researcher. Therefore, for developing all these parameters the banks and the government have to take necessary steps like to form some policies, which would help to increase the income of the fellow citizens. China has taken such steps for improving the financial condition of the people and the country. ...