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The rich gets richer, while the poor gets poorer.
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Devinwith all of our money that's why the u.s. is in debt because we still owe them money
By lifting restrictions on their own economic activity's. In effect by allowing entrepreneurs to make a profit. They were poor so had a cheap labor market and the people in the developed country's were happy to pay the lower prices for the goods that were being produced in China.
In 2010, China's GDP growth was 10.456 percent, totaling US$ 5,745.13 billion, and is expected to increase 11.79 percent in 2011 to US$ 6,422.28 Billion. Forecasts for 2015 predict China's GDP to reach US$ 9,982.08 billion, growing 10-12 percent per year between 2010 and 2015.
China's economy is huge and expanding rapidly. In the last 30 years, the rate of Chinese economic growth has been almost miraculous, averaging 8 percent growth in Gross Domestic Product (GDP) per annum. The economy has grown more than 10 times during that period, with Chinese GDP reaching 3.42 trillion US dollars in 2007. China already has the biggest economy after the United States and most analysts predict China will become the largest economy in the world this century.
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What was china's economy ranked at the beginning of the twenty-first century?
At the very beginning of the twenty-first century, China's economy didn't rank very high. In the very first year of the century however, China entered the World Trade Organization and began to see sharp increases in their earnings and saw a growth of 7.3% in just that year. By 2011, China was the world's second largest economy.
Capitalist economy operates somewhat independently from china in what city?
Hong Kong
To what country does Manchuria belong today?
China.
What does cuba depend on to keep its economy going?
Cuba depends mainly on its famous cigars , sugar and help from China and Russia to keep its economy going.
When did China stop being communist?
By the formal definitions of communism, China was never a communist state because control of social resources had not fallen into the proletariat nor had class divisions been removed. In effect, China was a state-led bureaucratic state which, economically, was centrally-planned. This central-planning partly discontinued during the late 1970s and has continually slowed to the modern day.
