Dating china service
Photo by Lucas Schifres/Pictobank/Getty Images China's economy produced .27 trillion in 2016 (based on purchasing power parity). China has 1.37 billion people, more than any other country in the world.China is still a relatively poor country in terms of its standard of living. The low standard of living allows companies in China to pay their workers less than American workers.They return only 4.9 percent on assets compared to 13.2 percent for private companies.China developed cities around these factories to attract workers.A teller counts Chinese Yuan banknotes at a bank in Shanghai, China, on February 1, 2008.The Chinese Yuan is known locally as the RMB, or renminbi, which means 'the money of the people'. The United States fell to third place, producing .5 trillion.As a result, one-fourth of China's economy is in real estate.
China built its economic growth on low-cost exports of machinery and equipment.These urban areas attracted 250 million migrant workers.Chinese leaders must continue to create jobs for all these workers or face unrest. At the same time, they must provide more social services.Before that, China enjoyed 30 years of double-digit growth.Unfortunately, that was fed by government stimulus spending, business investment in capital goods, low-interest rates and state protection of strategic industries like banking.