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Economics: Chinese Economy - Essay Example
This paper will comprehensively provide an insight on the Chinese economy and how it has shaped up over the last few years. This paper will expansively present the present condition of the Chinese economy as well with the help of diagrams and tables.
China has Achieved double digit GDP growth, the average growth is well above 10%…
There are many more factors that are affecting the climate conditions in China. China is frequently experiencing extreme climatic conditions, Sichuan earth quake is a classic example of the same. Northeastern and Northern China has experienced drought and these adverse effects will not stop until some precautionary measures are taken. Renewable energy has helped China in sustaining the growth. Nuclear electric power has also been a telling factor in the growth of China.
"Hydroelectric power has also played its role in the growth of China. Coal fired power plants serve about 70% of China's energy consumption." (Uranium Stocks). Coal is abundantly available in China and the same has made a difference. Coal power plants in China are the largest contributors towards pollution. "It is believed that reduction in emission will directly affect the GDP growth of China. The loss is predicted to be about 1-1.8% in GDP between 2013- 2025. There is no proper substitute of coal and replacing it would hamper the economic growth, this is the wicked problem that is severely affecting China." (Barett)
To sum it up, it is very fair to say that China has made tremendous economic growth but it has come at a very hefty price. China is one of the top three nations when it comes to the top contributors towards global warming. ...