China's economy is growing vigorously and at rates which are still impressive even in today's down global economy. At one point, during the Chairman Mao years, the Chinese economy was considered a basket case. Economic liberalization over the last couple of decades, however, has unleashed an appetite on the part of the country in terms of imports and exports that a significant.
Chinese leadership maintains that the country's national economy is growing at ever faster rates with each passing month, and there isn't much evidence out there that they're not correct. China also seems to be on the brink of passing Japan as the world's second-largest economy, maybe by the year' end.
Gross domestic product or GDP in China increased by 7. 1% in the first half of the year. This is quite impressive, given that every other national economy around the world was really hit hard when the economic downturn began to set in. Of the top 10 national economies, China's is the only one to actually show an improvement in 2009.
Many economists and financial experts believe that the strength of the Chinese economy will lead the rest of the world's markets out of the current slump. For China, it's important that this occur, as there are several economies -- especially that of the United States -- that China needs in order to sell its services and manufactured goods.
Realizing this, both China and the United States have sought to work closely together in order to stabilize economic and strategic actions that will hopefully have the effect of improving and creating growth in the US sector. Americans are the largest consumers of Chinese goods, so it's important to the Chinese government that this effect manifests itself soon.
Just about every China watcher these days states that the country is going to a lot of trouble to be a responsible partner in terms of global economic activities. This is quite different from the days when Chairman Mao ran the country with an iron fist. Additionally, the Chinese economic stimulus program ran by the government has proven to be a great success, highlighting how effective a stimulus can be when done properly.
