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

China’s Contemporary Political and Economic Issues

Eric Hyer

Department of Political Science

Brigham Young University



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)




China s economic growth
China’s Economic Growth


General economic indicators main indicators
General Economic IndicatorsMain indicators

2000 2001 2002 2003 2004 2005 2006 2007

Gross Domestic Product (GDP) (Billions of RMB)

9,921.5 10,965.5 12,033.3 13,582.3 15,987.80 18,286.0 21,087.1 24,661.9

Real GDP growth %

8.4 8.3 9.1 10.0 10.1 9.9 10.98 12.08

Urban per capita income (RMB)

6,280.0 6,859.6 7,702.8 8,472.2 9,421.6 10,493.0 16,084

Rural per capita net income (RMB)

2,253.4 2,366.4 2,475.6 2,622.2 2,936.4 3,255.0


China s foreign trade global
China’s Foreign TradeGlobal

2000 2001 2002 2003 2004 2005 2006 2007

Total 474.3 509.8 620.8 851.2 1,154.8 1,422.1 1760.7 2173.3

% change 31.5 7.5 21.8 37.1 35.7 23.2 23.8 23.5

Balance 24.1 22.5 30.4 25.5 31.9 101.8 177.5 262.2

USA

Total 123.9 128.6 155.6 191.7 245.2 285.3 343.0 386.7

% change 22.8 3.8 21.0 23.2 27.9 23.3 20.2 12.7

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

  • Japan 1. United States

  • South Korea 2. Hong Kong

  • Taiwan 3. Japan

  • United States 4. South Korea

  • Germany 5. Germany

  • Malaysia 6. Netherlands

  • Singapore 7. United Kingdom

  • Australia 8. Singapore

  • Russia 9. Taiwan



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