Economic, Monetary And Financial Conditions

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Economic, Monetary and Financial Conditions China An efficient economy is an economy where resources are allocated to serve every citizen in the best way so that there will be minimal waste and inefficiency within the economy. China is the short name for the country, but the real name is People’s Republic of China. China happens to be one of the economies that falls under an efficient economy because it has continued to improve other the past decades. “Over the past five years, economic freedom in China has improved by less than 1.0 point, continuing its patchy and uneven progress since 1995” (heritage.org). Although China has had some rough stages in economy efficiency, they have continued to strive and make it on top. China is one of the most thriving countries in the world today, but it is still classified as a developing country. The population has reached over 1.364 billion and contributes to the 19.06 trillion dollars in exports along with the 19.01 trillion dollars in imports. China has obtained over fifty different commercial banks in their growth to the present, but there are twenty-nine different banks present in their economy. The currency used is the Chinese Yuan and one U.S. dollar equals 6.4 Yuan’s. India India, just as China, is a developing country. India has a current population of 1.29 billion people. The currency used in India is the Indian Rupee, which is worth 66.61 Rupees per U.S. dollar. There also twenty-seven different banks that are established
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