China s contemporary political and economic issues
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China ’ s Contemporary Political and Economic Issues. Eric Hyer Department of Political Science Brigham Young University. Population (2010). Economic Growth Profile. GDP growth averaged 9.8% since 1994 Exports climbed 1,200% since 1990 $2.2 Trillion in Currency Reserves

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China ’ s Contemporary Political and Economic Issues

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China s contemporary political and economic issues

China’s Contemporary Political and Economic Issues

Eric Hyer

Department of Political Science

Brigham Young University


Population 2010

Population (2010)


Economic growth profile

Economic Growth Profile

  • GDP growth averaged 9.8% since 1994

  • Exports climbed 1,200% since 1990

  • $2.2 Trillion in Currency Reserves

    *600 billion US$ in US government securities

  • Educates twice as many engineers as the US each year

  • Shanghai real estate prices climbed 74% since 2002 (but plummeted since 2008)


Economic size in perspective

Economic Size in Perspective


Us china compared

US-China Compared


China s economic growth

China’s Economic Growth


General economic indicators main indicators

General Economic IndicatorsMain indicators

200020012002200320042005 20062007

Gross Domestic Product (GDP) (Billions of RMB)

9,921.510,965.512,033.313,582.315,987.8018,286.021,087.124,661.9

Real GDP growth %

8.48.39.110.010.19.910.9812.08

Urban per capita income (RMB)

6,280.06,859.67,702.88,472.29,421.610,493.016,084

Rural per capita net income (RMB)

2,253.42,366.42,475.62,622.22,936.43,255.0


China s foreign trade global

China’s Foreign TradeGlobal

20002001200220032004200520062007

Total474.3509.8620.8851.21,154.81,422.11760.72173.3

% change31.57.521.837.135.723.223.823.5

Balance24.122.530.425.531.9101.8177.5262.2

USA

Total123.9128.6155.6191.7245.2285.3343.0386.7

% change22.83.821.023.227.923.320.212.7

Balance-91.3-90.2-111.4-134.9-175.8-201.7-232.5-256.3

(US$ Billions)


Top trade partners

TOP TRADE PARTNERS

Imports SuppliersExport Destinations

  • Japan1. United States

  • South Korea2. Hong Kong

  • Taiwan3. Japan

  • United States4. South Korea

  • Germany5. Germany

  • Malaysia6. Netherlands

  • Singapore7. United Kingdom

  • Australia8. Singapore

  • Russia9. Taiwan


Us china trade balance 2010

US-China Trade Balance (2010)


China s contemporary political and economic issues

Chinese Labor Costs?Reliable data don't exist, but the U.S. government is doing some digging, and here's a preview of the findings:A paltry 64 cents an hour average!(wages + employer contributions for benefits and insurance)But Things are Changing Fast


China s contemporary political and economic issues

City manufacturing workers average $1.06 an hour

Suburban/rural manufacturing workers average 45 cents an hour

Since 2004 labor shortages have forced wages up.

In 2005 salaries surged 40%, to an average of $160 a month

Skilled labor is in short supply and more expensive—average annual increase in wages is 10%


Future trends

Future Trends

  • Continuing Economic Growth

  • Slow Political Reform

  • Smooth Leadership Transition

  • Growing Social Instability

  • U.S.-China Strategic Competition and Cooperation


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