China
A three trillion dollar plus GDP with a billion plus people make China an emerging player in the Global Economy. China is considered to be part of the BRIC (Brazil, Russia, India,
China) emerging countries, which will eventually dominate the world
economy, as per research from banks like Goldman Sachs (albeit, this needs to be taken with a grain of salt, since many wall street banks have lost all credibility and are at the receiving end of the mamoth 700 billion USD bailout). Good food, decent clothing, and adequate shelter is more abundantly found in China than in India for most people, thanks to its higher growth rate, better manufacturing ability in general; and communist China's ability to keep its currency (Yuan) artificially lower than it should be vis-a-vis the US dollar, to boost exports. Also, with the U.S. and Europe slowly coming out of the current recession, exports from China are bound to go up again...
Based on PPP (Purchasing Power Parity), China is the second largest economy behind United States, and is scheduled to overtake the United States by 2040 to become the largest economy, in absolute dollar terms. However, not everything is well inside China. Freedom is still elusive for most Chinese, with the communist government controlling the movement of people in general. The brutal suppression of the Tienamann Square uprisings is a ticking time bomb; it is a matter of time before the Chinese will rise up again for free speech, better human rights, freedom. Also, it is rumored that since more and more poor Chinese are leaving countrysides to come to bigger cities, the government issues Visas to its Citizens for going to cities (so that some people are still left in countryside to cater to agriculture etc.) from villages, etc. This is just one example of restrictions on human freedom. In general, the Chinese who come to the United States don't go back for this reason.
Macro-economic Data
Nominal (inflation adjusted) GDP: $3420 billion
Approximate GDP per Capita: $2034
GDP Growth Rate: 11% year over year as per the Chinese government
Population: 1335 million
Balance of Payments surplus in 2008: $426 billion
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