Economy of china is one of the largest economies in the world after the United States of America. Over the years it has been regarded as the fastest growing economy in the world registering the highest number of exports and imports. This has been attributed to high population that the economy has to support. As a result, the economy has improved which has been reflected in terms of the infrastructure development as seen in certain sections of the country which have been heavily industrialized. The current GDP growth rate is estimated to be at 7.4% while the rate of inflation is estimated at 5.4%. Chinese economic system up to the late 90's was faced with a situation where the state owned enterprises took control of certain industries and controlled the financial system. In the early 70's the economic growth was low compared to the western economies therefore most of the...
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