China: Economic Overview.

In late 2009, China overtook Japan as the world’s second-largest economy, and today, China’s GDP stands at a massive $14 trillion USD and growing

It wasn’t always this way though. For the longest time, China’s economy was secluded from the rest of the world.

It was only during the formalization of the modern government, the People’s Republic of China, that China started opening its door to the rest of the world.

China hit a humungous growth spurt in the 1990s and 2000s, as the nation posted ridiculous double-digit growth.

This put its booming economy at the forefront of emerging market growth.

Interestingly, the growth has been spurred on by the agriculture and industrial industries, which account for more than 60% of the total GDP.

Export trade has also played a major factor, with the undervalued yuan helping make Chinese goods more attractive in international markets.

Over the past year though, there have been fears that the Chinese economy may overheat.

To counter this, the Chinese government has implemented various monetary and fiscal policies to ease the transition to more sustainable growth levels.

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