China’s Economic Conditions.

4 10 2008

URL: http://opencrs.com/document/RL33534. Source: Congressional Research Service.

This report notes that since the initiation of economic reforms in 1979, China has become one of the world’s fastest-growing economies. From 1979 to 2007 China’s real gross domestic product (GDP) grew at an average annual rate of 9.8%. Real GDP grew 11.4% in 2007 (the fastest annual growth since 1994). While China is expected to continue to enjoy rapid economic growth in the years ahead and could become the world’s largest economy within a decade or so, it faces a number of challenges, including widespread government corruption, an inefficient banking system, over-dependence on exports and fixed investment for growth, pollution, widening income disparities, and growing inflationary pressures, to name a few.

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