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Economy
Home » China » China Overview and History » EconomyThe Chinese economy is the second largest in the world when measured by Purchasing Power Parity. Its continued growth is critical to the world economy, as well as to its population of 1.3 billion people. The government has been reforming its economy to be more market-oriented, but still within the political framework of the Communist Party of China. This is a system of mixed economy and is called “Socialism with Chinese characteristics.”
The main agricultural products of China are rice, wheat, potatoes, sorghum, peanuts, tea, millet, barley, cotton, oilseed, pork, and fish. Almost half of the Chinese labor force in involved in agriculture, although only 15.4% of the land is suitable for farming.
China receives international food aid, as 11% of its population is undernourished. It did, however, meet its goal for agricultural self-sufficiency in the 1990’s.
China’s main industries are iron and steel, coal, machine building, armaments, textiles and apparel, petroleum, cement, chemical fertilizers, footwear, toys, food processing, automobiles, consumer electronics, telecommunications, and electronic information. In the coming years, the automobile industry is expected to grow rapidly, as is the petrochemical industry. Today, machinery and electronic products are China’s main exports.
Pollution is a major problem in China. In fact, seven of the most polluted cities in the world are located in China. Respiratory and heart disease related to pollution are the leading causes of death in China.
References
www.wikipedia.org
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