About 1% of the world’s population own about 40% of all the wealth on the planet. The Global Wealth Report estimates that there were 24.2m people in mid-2010, about 0.5% of the world’s adult population, that are millionaires. They control $69.2 trillion in assets, more than a third of the global total. Some 41% of them live in the United States, 10% in Japan and 3% in China. Only 16% of high net worth individuals inherited their stash, according to Capgemini.
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 (. Furthermore, China mostly imports oil and gas products from Nigeria and Chinese exports to Nigeria comprise numerous manufactured goods, electronics, and machineries amongst other. For example, within a period of 10 years as above, China's exports expressed as a percentage of the total bilateral trade was up to 20%.
Along with rapid growth of the economy, the wealth gap is becoming wider in China, causing even worse income inequality. According to the report published by China Family Panel studies, one-third of the country’s wealth belongs only to the top 1 percent of the population, while the bottom 25 percent only owns 1 percent of the total wealth. Such tremendous gap between the rich and the poor indicates strong inequality in the distribution of income in China. In fact, changes in the Gini coefficient, which is a tool that measures income inequality in a country, clearly show how China has become more inequitable. The article writes that back in 1980, China’s Gini coefficient was at 0.3, however it has increased to 0.49 in 2012.
Baidu Inc. ADR (NASDAQ: BIDU) Baidu is a market leader amongst the search engine providers of China. The sales of Baidu are $10,242.5 million, with a P/E of 19.8 and EPS growth rate for BIDU is 43.6%. Although it is a large company, it still maintaining a fast growth. Furthermore, it in aligns with the risk-reducing strategy by diversifying the stock. Usually, during the Chinese New Year which is the first quarter, is a weak quarter for all business in China.
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
China is the third largest land after Russia and Canada in the world. Although China’s land is not as big as Russia or Canada, but their number of people make up more than two countries. Overpopulation in China is one of the serious problems that the world is facing because it brings unemployment, exhaustion of natural resources and also environmental at pollution. Why is China’s population more than other country, because
Artprice.com, a world renowned source for art market information, reported that China is ‘the world’s largest art marketplace’. Artprice stated that China accounted for $2.32 billion of the estimated $6.53 billion global sales, which is just incredible. Because of modern Chinese art’s originality and history, it has reaped immense economic benefits. Yet culturally, some argue that contemporary Chinese art is detrimental to China’s culture. Starting from Mao, traditional art of thousands of years in the making, like ink painting and calligraphy, has been abandoned for the new and absurd art of contemporary artists.
Advantage and disadvantage The advantage of the mixed market system is that China has open is market towards foreign business therefore creating job opportunities for their people by doing so it has improve their society and the style of living. Besides that, those citizen who works for the foreign companies will incur a percentage of taxation. This taxation is then uses by the government to develop the country by improving their infrastructure such as roads, telecommunications, and public transportation. Apart from that, China is now the 2nd largest economy in world (Jerry w; 2011), (Nation Master; 2003-2014). The disadvantage that China will face with this mixed market system is that many hundreds of millions of people still remain poor because most of whom live in more isolated interior regions of country away from prosperous coast; therefore creating a gap between rich and poor.
These kinds of bureaucracy lead public officials to offer facultative services for speeding things up. Mahmood (2005) states discretionary power of public officials could prompt corruption. He also adds that monopoly of public services also has influence on corruption. Low level civil servants gain power in complex administration system of government because there is no competition for providing public with government services. Public and private sectors depend on civil servants for dispensing their needs.
while, overall population growth rate of Pakistan is 2.0%. It is said that with this Growth rate Pakistan will become the 4th largest NATION in 2050. Pakistan is known as the “YOUNG” country with the median age of 23 years. (Total). And has both female and male median age year of 23,Approximately 106 million People are below the age of 30 and Total working Population is 121.01 million and there is only 57% literacy Rate of Total populatin.In general it has been studied that where there is rapid population growth and high fertility rates, poverty incidences is also very high.