Since China initiated some of its major economic reforms in early 1980’s, since then the country has remained at the top of the fastest growing economies of the world. China economic standing is by no doubt amazing. For the period running from 1979 to 2002 China’s GPD rose at a steady percentage of about 9.3% annually. Indeed many economists have predicted that China might become the world’s largest economy at some point in the future.
According to Robert Fogel a Nobel Prize winner, China’s GDP will reach US$123 trillion by the year 2040, more interestingly this will be twice the GDPs of both the E.U and the U.S combined. Though no one of us can really know whether these predictions will come to pass, we can all tell that it won’t be business as usual in the global trade and economics and more certainly China will play a crucial role to this change.
Almost everybody with minimal knowledge of the world economy would tell you one thing that China has experienced at least the decades of remarkable economic growth. As per the data obtained from the IMF the real GPD of China has grown by 536%. This growth is cannot be compared by any other in the global, not even the United States that has experienced only 61% growth over the same period. Despite the economies of most countries in world being threatened by a debit crisis China’s economy has continued to soldier on with none of such threats. In the recent past the Central Bank of China has been working so hard to prevent the country’s economy from overheating.
Most businessmen and women have been keeping a close eye to the economic developments in China. Its for these reasons that big companies especially in the hotel and tourism industries have started opening operations in this country. Other companies from other industries have as well started laying basis in the Chinese economy.
For any one looking for business opportunities, this is the market to consider.