China 's Economic Development And Macroeconomic Policies

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China’s economic development and macroeconomic policies in 2013-2014 Economics for Global Business – Written Assignment Regent’s University of London Written by: Fabian Leonardo Cabrera Martinez and Marko Bakovic Date: March 22nd 2015 Module teacher: Karuna Gomane Contents page Introduction 3 China’s economic development during 2013 4 China’s economic development during 2014 6 Conclusion 9 Reference list 10 Figures page Figure 1 – Retail sales of consumer goods 4 Figure 2 - Trend of industrial added value output 5 Figure 3 - GDP Annual Growth Rate in China 7 Introduction China is considered the second largest economy in the world. During the past two years, this country has faced a number of both positive and…show more content…
Some of the reasons were the increase in the reliability on investment and trade. The government and the Central Bank promoted a self-sustainable development continuing the macroeconomic policies implemented in 2013 in order to obtain a steady and healthy economy. This document will examine how successful was the government and Central Bank of China during 2013 and 2014. The extent of this report only allows the analysis and explanation of some of the main macroeconomic policies implemented in those years in order for China to either continue or overcome its economic situation. China’s economic development during 2013 China has overall well-developed economy and government system. China’s economy was worth around 9 trillion dollars and it grew by 7.7% in the year of 2013 and it exceeded the 7.5% expectation of Chinese government. “The Chinese government defined the "upper and lower limits" of the reasonable range of economic performance in 2013. With a GDP growth rate of 7.5 percent, the "lower limit" is intended to ensure steady expansion and employment, and with the consumer price index at around 3.5 percent, the "upper limit" is meant to prevent inflation” (Peng, 2014). Statistics also show that in 2013 China offered around 10 million new jobs to its citizens and inflation came in at 2.6 percent. One of the fasters growing sectors in 2013 was retail sales. According to the Retail Sales of Consumer Goods statistics chart
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