• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The quality of China's GDP

Extracts from this document...

Introduction

Coursework: The quality of China's GDP Date: 1-29-2011 My name: Liu Zhao Xiong (VINCE) Title of article: China GDP to Grow 8.7% in 2011, Down From 10%, World Bank Says Date of article: January 13, 2011 Source of article: http://www.businessweek.com/news/2011-01-13/china-gdp-to-grow-8-7-in-2011-down-from-10-world-bank-says.html Author of article: Ian Katz Relevant section of syllabus: GDP , inflation, hard currency, Word Count: 727 The quality of China's GDP GDP is the market value of all final goods and services produced within a country in a given period of time. It is often positively correlated with the standard of living, alternative measures to GDP for that purpose.It is generally expressed a country's wealth in the year the total output, the performance of the merits of the living conditions of people, so that countries attach great importance to the case of GDP to complete. ...read more.

Middle

Limited freedom of money, so the Chinese are not recognized as a market economy. Today, we should pay more attention to the quality of GDP, not only the quantity of GDP, but also the better quality of GDP. China's phenomenal economic growth in recent years was primarily due to growth in the secondary and tertiary sector of the economy. In fact, the primary sector (which is mainly the agriculture) grew only slightly since 1996 (changes in the proportions between primary, secondary and tertiary sector. Among economists there is a debate about the true values of China's GDP growth. Some economists have argued that China's economic growth rates are actually much lower than reported by the National Bureau of Statistics. However, in the context of rural and regional development it is more important that the relative contribution of agriculture to China's GDP has declined significantly. ...read more.

Conclusion

We may be obtained at the expense of the environment of high growth, this is a poor quality of the GDP. Environment, ruining the future of our children to spend money to governance, which mean that we borrowed the money of future generations engaged in GDP, in the future to repay the debt.This GDP components to contain false, obviously not a good GDP. Fifth, are there many people are unemployed? Comparison of China and the U.S., China talk about how much GDP growth, do not ask the unemployed; U.S. GDP growth in the number of do not ask, just ask the unemployment rate. U.S. GDP growth has now returned to normal, but the unemployment rate over 9%. So that the economic crisis is not over yet. In China, the unemployment rate is simply no statistical data, local officials just to high GDP growth. Our future in the pursuit of GDP, should be concerned about its quality. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Economics essays

  1. Analysis of Singapore's GDP and Inflation figures.

    Singapore is one of Asia's fastest growing economies. This year, the U.S. economy maybe decline in growth rate and the global electronics industry may decline are the main danger facing by Singapore's economy. The Monetary Authority of Singapore states "domestic economic activity fell by 6.5% in the second quarter of 2011.

  2. The luxembourg Economy (Complete Review)

    This is also evidence of the long term positive effect of the policy, as well as its contribution to the nation's constant economic development. Despite being so effective within the long run these policies are relatively unfelt within the short term as they often endure a time lag before influencing the market.

  1. Economics Coursework - Demand&Supply

    The fall in income due to the recession has, according to the laws of supply and demand and assuming that all other things stay equal (Ceterus Paribus), caused the fall of demand. Although the article doesn't state a percentage of the fall in income of the population, the income elasticity

  2. Strategic and Operational Performance Assessment at Petrom

    Petrom after the privatization, the current stage of development within the macroeconomic environment and the strategic directions pursued in order to achieve sustainable development and become a leading integrated energy player in Southeastern Europe. As a member of the OMV Group, Petrom has embeded in its operations the '3plus' strategy.

  1. China Inflation and GDP Growth

    Meanwhile, the World Bank said China's worsening inflation problem was the result of its own expansionary monetary and fiscal policies - and that it shouldn't seek blame foreign fund flows for rising prices. China is near the point where higher interest rates generate benefits which outweigh the costs, the World Bank's lead economist for China said in a report Thursday.

  2. The future of Eli Lilly

    Ranbaxy was a perfect fit, because of its size on the local market. At last, internal agreement on these issues must have been obtained by each of the partners. This is also the case with the Eli Lilly Ranbaxy. Therefore the Joint Venture fulfils these basic assumptions for a partnership.

  1. Coursework: Is Chester Zoo value for money?

    million, and the size of Chester Zoo is going to be tripled. The estimated completion date is 2020 and will divide the zoo into four zones representing African savannah, grassland, forest and island and wetland habitats. In the next 18 months, Chester Zoo is going to be built a new aquarium building called Origins.

  2. 15 Historical Economic Questions on Mercatilism and the Development of European Countries.

    This mechanism refuted many of the ideals that pertained to mercantilism. The Price-Specie flow mechanism illustrates the invisible hand over international trade balance. This changed economic thought and in turn, nations began to shift their focus away from mercantilist ideals. Instead focusing on their trade balances in order to prosper.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work