So, another finding Paul cited in (Li Xing 2010) of the study was that Chinese exports to Nigeria were on an increase and the difference noticed in the increase of the Chinese export within 1976 and 1980, was 250 million US dollars. That is the increase in exports as said above was from 128 million US dollars to 378 million dollars in the respective years. Therefore, this type of situation reveals that China does saturate the Nigerian market with Chinese goods and this could in the other way round because unfavourable market conditions for home produce goods. Again, as years were advancing the trade relations between Nigeria and China was also on good terms in the sense that the trade volume reached 3 billion US dollar by 2004. Also in 2010 the value of bilateral trade between the two countries was 10 times what it was in 2000 that is the value of trade in 2010 was 17.7 million US dollars meaning that the trade value in 2000 was below 7 million US dollars as revealed by findings (Rothberg Robert 2008 P: 274).
Over the last 20 years, even though China is still a developing country, it rightfully snagged first place with the largest amount in foreign domestic product. Their international trade increased by an impressive 16 times in 20 years, taking thousands of people in the world out of poverty: “The rapid growth in China has caused world poverty to decrease; and it is evident that globalization has made the relationships between developed countries and developing nations stronger.” Although the benefits of China’s economic success are positive, one must consider that it is one of the only developing countries that profits from globalization so much. In the majority of developing countries, the citizens are taken advantage of through long work hours and low wages. This was also evident in China before its change from globalization. Globalization influenced the work habits in China, making them more humane while also benefitting the
Its economic growth in the 19th century was sluggish, but in the beginning of the 20th century, it witnessed a rapid growth in the economy, which was stimulated by the growth in the Chinese republican revolution, the First World War and light industry. It is seen as one of the most populated countries worldwide, with a population of sixty-three thousand people. It has the world lowest birth rate of 1.11 per woman as per 2012 reports. This was contrary to the two decades ago that witnessed a higher rate of mortality in Hong Kong. As a result of low birth rate, the government has been able to plan its policies, therefore, ensuring there is a steady growth in the economy.
The dollar index, which measures the value of the US dollar against its most significant trading partners, determined that this currency has increased its value in a 15 percent since June last year until January this year. This economic scenario is changing the way of interaction between the most powerful nations and will definitely have an impact in every single company or business around the world due to macroeconomic principles. The main cause of the dollar appreciation is that the United States economy is balanced and better than other developed countries, achieving a Gross Domestic Product Growth of the 5% in the third quarter.
China and Globalization In an ever changing world, the rapid growth of our cities and technology has prompted an interconnected, globalized world. A major cause of this global prosperity is the expansion and acceleration of trade. The comparative advantage (when protectionism is unnecessary) granted by a free market has maintained a relatively high amount of contact between countries and guaranteed an invariable sense of competitiveness for the cheapest and most innovative products. A prime example, China owes its profound economic growth to globalization. Known as the “world’s factory”, China is the largest supplier of cheap products in the world.
The government largely promoted trade because it was their main source of revenue. Trade was the main business in China at the time and it was the main source of the money flowing through the country. Another reason the government benefited financially, was the taxes they collected. They charged exorbitant taxes for land trade routes and still charged a substantial amount by way of the Grand Canal. They kept open borders, allowing for foreign trade.
The year used for this study is 30 years which from 1985-2015. With highest number of population, China become second largest economy and have important role in the global economy because of openness economy. Even GDP of China is increasing and successful to reduce poverty rate, yet there are still about 98.9 million citizens that lived below poverty rate. China’s 12th Five-Year Plan more target on quality of life rather than growth rate. Independent variables Population growth is the rising people in a country.
And find out the deficiencies and solutions based on the economy problems. Key words: Economy, China, Problem, Achievement, Reform Introduction: There is no doubt that China has made the most outstanding achievement in developing countries since 1980s. Even if it does not incorporate Hong Kong, Macao and Taiwan into statistics, China has also become the world 's second economic power, the first manufacturing country and the largest exporter, with the largest foreign exchange reserve in the world and unprecedented in human history.It is widely regarded by the international community as the world biggest winner in economic globalization since 1990s. However, what is the final result of China 's rapid economic development over the past decades? Is there a lot of problems?
So the same idea repeats itself, how we manage this growth is the problem, and not the growth itself. For example, one of the countries that witnessed huge population growth but still maintains one of the best economies in the world is China. Since it made some market reforms in 1978, China 's economic growth averaged 10% annually, lifting half of its 1.3 billion population from poverty and becoming the second largest economy on Earth. Despite having the largest population in the world. Its huge population was not a hindrance but rather a
Introduction As India’s economy continues to grow, the gap between the rich and the poor also continues to widen. India is the worlds’ biggest democracy, and with a population of over 1.25 billion it contains the world’s seventh largest economy. Economic reform introduced in the 1990’s has improved India’s economy, but the country still struggles with widespread poverty and economic inequality. A report published in 2011 by the Organisation for Economic and Organisational Development (OECD) stated that income inequality has doubled in India since the 1990’s (OECD.com). The report also stated that the wealthiest ten percent of Indians earn twelve times as much money as the poorest 10 percent.