Smoothie King

In: Business and Management

Submitted By Holdyng
Words 891
Pages 4
China is the largest exporter($2.21 trillion in 2013) and second large importer($1.95 trillion in 2013) of goods in the world. The socialist market of China is the world's second large economy by nominal GDP and by purchasing power parity after the United States. China main export partners are Hong Kong(17.4%), United States (16.7%), Japan (6.8%) and South Korea($.1%). However, South Korea(9.4%), Japan(8.3%), Taiwan(8.0%), United States (7.85), Australia (5.0%) and Germany (4.8%) are China main import partners in 2013. For the first time in over a century, following the international financial crisis, the U.S. has been displaced as the world's largest industrial producer - this position now being taken by China. This period also witnessed the greatest shift in the balance of global industrial production in such a short period in world economic history. China's industrial output, which includes 220 of world major products such as steel, coal, cotton and cement, continues to accelerate. It is the world's fastest growing major economy with growth rates averaging 10% over the past 30 years. China encounter both recession and expansion period within 2004-2013.

|China GDP in current prices |

China's industrial output,which includes 220 of world major products such as steel, coal, cotton and cement, continues to accelerate. Statistics show that China's GDP rose from 15987.83 billions ( RMB) in 2004 to 53070.3 billions (RMB) in 2013. Even in the shadow of the global financial crisis in year end of year 2008 to 2009, China's GDP maintained steady growth. China's low labor cost have enabled Chinese products to enter the world market and make the country the world's foremost manufacturer. Despite a surge in wages in recent years,China's…...

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