Chin The World 's Fastest Growing Major Economy

3539 Words Nov 22nd, 2014 15 Pages
Introduction

China is the most populated country in the world, and currently has the world’s fastest-growing major economy. It has allowed the country to advance into today’s modern society. The current government structure is a single-party socialist state where communism has prevailed even since 1949. One of the biggest impacts on the country and its markets has been globalisation, which has enabled China to move from a centralised economy to a market based economy. This change in the economic system allowed the GDP to increase by around 10% annually. Consequentially, more than 500 million of its population enjoys a better living standard. In this report we will focus on different aspects of the Chinese market, examining key factors such as the strengths and weaknesses of its macro-environment, the geopolitical role of China and its participation in the WTO. Finally we will consider the areas of Chinese policy which need reforming in order for China to ensure its sustained growth and its emergence as a newly developed nation and first-order global power.

1 The Strengths of China

1.1A very big Market for distribution and supply China is a very large key market for all countries in every industry. This is due to its vast market of 1.3 billion potential customers (1/7 of world population). There is immense interest by European companies’ in investing into China. Europe as a whole, particularly the European automotive and the machine manufacturing industry is regarding…
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