The demand for oil in China has grown to unprecedented levels. It is one of the leading countries in oil demand growth. China’s dependency on oil has surpassed the USA in terms of imported oil in from the Middle East. The increase in oil demand in China is the result of many economic variables, including a booming economy. The implication of such a booming economy has resulted in political shifts on a global scale for China.
In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. The Chinese government faces numerous major economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes that in recent years has been a prevalent
In the other hand, the consumption of oil in China is increasing due to the development of its industry and population growth. It increased from 2.9 million barrels a day to 5.4 million barrels (Horsnell, 2000). Industry sector in China consumed more energy than any other sector. In 1995, it recorded that oil consumption in industry sector had reached 49%. Although, it has heavy energy consumption, industry sector is holding one of the most important role in Chinese economy.
Over the past 30 years China has risen from the rubble, it has undergone a social, economic, political and environmental change so quickly that it astonishes the rest of the world. In the blink of an eye, it has become the manufacturing capital of the world. China has proven that it is possible to have a communist-capitalist government system. Although the transformation China has undergone is unbelievable, the country has also run into many problems along the way like overpopulation, environmental issues causing the economic growth is starting to slow down. China has had the largest ongoing migration in history, currently the government is planning to move 250 million people from farms to urban cities (New York Times).
The countless health problems, costs, and mortality that occurs with air pollution are a growing concern globally and especially for the children of China. The Global Effect Air pollution is a global problem as it affects the whole world, yet some countries must take more actions to fight for their health. In countries such as China, it is common to see citizens where face masks when outside to help filter the air they breathe. Unfortunately, China is foreshadowing to the rest of the world what the reality could be in years to come if no actions are initiated. Although China is the main concern, the air pollution throughout the world is also detrimental as “98% of cities in low- and middle-income countries with more than 100,000 inhabitants do not meet WHO air quality guidelines.
The economics of China have been growing rapidly since the reform and opening up in 1978. Between 1978 and 2005, China's per capita GDP had grown from $153 to $1284, that is more than 8 folds increment. This economic reform has increased inequality in China dramatically. To large extent I agree the rapid economics development of china has been more of a threat than an opportunity for China’s traditional culture. Culture is made up of 3 major components; these include material aspect, which is more physical, such as buildings and architecture.
In the last three decades, China has been transformed into the second largest economy in the world, in terms of GDP or gross domestic product in 2010; along with that it has also become the highest consumer of energy in 2009. As per the report by Chen et al. (2013) the total energy consumption of China reached to 2.43 billion tonnes of oil equivalent in 2012. According to the same report, the energy consumption of per-capita GDP has risen by 1.4 times higher than the world average. Every growth comes with a price and in China; the population has paid with the ill effect of pollution on the health of the people in China.
Analysis China as a country with rapid economic growth, becoming one of the world’s attention on environmental problems. In fulfilling the needs of its people with large number and rapid growth of the industry sector, China provides substantial contribution towards environmental damage. Air pollution is a problem in China. China 's economic growth is pretty awesome, but not many people outside of China know the negative effects of economic growth. This matter emerged because of several reasons: One of them is air pollution.
Introduction China is the second biggest country in the world, and it has got the largest population in the same time. Since the reform of Chinese government in 1980s, China gradually became a powerful country base on agriculture. Because of the significant success on the economical benefits brought by agriculture, the damage to the environment follows up. This has caused the loss of profits in tourist industry and increased the cost of fresh clean water in China. One of the most severe problem caused by agriculture goes towards the environment and human society is eutrophication.
In 2012, China became the biggest trading nation in the world. This has been measured by the amount of exports and imports that China has. The USA’s exports and imports added up to $3.82 trillion USD in 2012. China’s exports and imports added up to $3.87 trillion USD in 2012. Free trade is extremely beneficial for economies as it has influenced China’s GDP and has made It closer to becoming one of the super economies in the world.