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China socialist economy is the world´s second largest economy by nominal GDP

China is one of the biggest exporters of goods in the world

China became the sole Asian nation to have a GDP above the $10 trillion mark.

Inflation

Shortages of gasoline and diesel fuel developed in the fall of 2007

  • China before 1978 was economically frail
  • Reform of 1979, "Socialism with Chinese characteristics"
  • Since this reform, China has increased without stopping
  • GDP grown between 1978-2005 from $153 to $1284
  • Become the first economy of the world

Vast majority of china`s imports consists of industrial supplies and capital goods. Mainly from developed countries such as EEUU and Japan

China´s imports from US has grown from 7% to 15% since 1996

-Imports (machinery, high technology)

-Exports manufactured goods (80%) and agriculture products

-Busiest ports are of China

China is building substantial new islands on five different reefs

As they create these islands they reclaim big portions of the sea near these ones.

China could literally control the flow of a large portion of the world`s shipping

ECONOMIC GROWTH

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