China 's World 's Largest Economy Essay

1474 Words May 29th, 2016 6 Pages
Bismillahi Rahmani Rahim
Alhamdu lillahi allathee hadana lihatha wama kunna linahtadiya lawla an hadana Allahu was salatu was salamu 'ala ashrifil anbiya wal-mursalin nabiyina Muhammad wa 'ala alihi wa sahbihi ajma 'in

China‘s currency devaluation

The speed and size of China 's economy revolution is a trend and China has emerged as a major global economic power. It is now the world’s largest economy. (Morrison 2015) Three decades ago, China was among the poorest nations in the world. Comparing the Gross Domestic Production in China per capital against USA level was only 2.5% and Brazil level was 10%. Currently, China 's Gross Domestic Production has grown at approximately over 8 percent per year. Therefore, today comparison with China’s level of Gross Domestic Production per capital against USA is now more or less 20% and equal level to Brazil. This fast and continued development in average living standard has take place in a country with more than 20 percent of the world’s population as a result of this China is currently the second-largest economy in the world (Xiaodong Zhu ). Although there are so many investors in china’s economy, the cause of rapid growth is not investment but rather productivity. China produces lot of goods and exports to many countries. The biggest customer of Chinese goods is USA. China export goods increased 11.5 percent by year. March this year 2016 china exported goods worth of to USD160.86 billion, which exceeded the market expectations…

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