China has taken up a policy of extensively developing its resources and the economy. The country has seen resounding growth over the past decade with no signs of slowing down anytime soon. Already the world’s second largest economy after the US, China is expanding its trade relations with almost every country in the world through exchange of goods and services or commodities listed on the stock exchange. This is allowed them to witness a huge influx of business and funds subsequently to help develop infrastructural as well as industrial prowess.
China and its economy have been in the spotlight for one reason or the other for as long as civilization has existed. In recent years, the rise of the country to become the largest economy in the world coupled with enormous infrastructural projects that it has initiated, e.g. the Silk Road have become the talk of the town. Add to this the brewing tensions of a potential trade war with US and there is no economy in the world that is more worthy of being discussed than the Chinese.
Steel is one of the most widely used commodities in the international market today and with rapid infrastructural developments happening throughout the world, supply and demand is expected to hold strong in the future. This need for steel is fulfilled through trade between international borders. China and the US being two of the biggest players in the market, create considerable ripples when they indulge in trade wars over the precious metal.
China has been home to one of the most controversial birth control policies anywhere in the world. For almost four decades, the government has stringently enforced a policy that limited each family to only one child. Anyone exceeding these restrictions had to pay heavy fines. For many years experts have argued that a government has no right to determine how many children a couple should have. In fact, people were quite pleased when China started easing its stance on the policies beginning in 2013.
China is home to almost a fifth of the world’s population. With 1.6 billion people, it is one of the largest countries on the planet and the second largest economy. It is rapidly closing the gap on first placed USA and experts believe that it could overtake them by 2030.
Balance of trade is one of the most important parameters for measuring the growth and stability of a certain economy. China posted its first trade deficit in over a year in April this year, recording a 2.7% drop in exports and an increase of 14.4% in its total imports. Chinese exports have always outweighed its imports, but growing economic and infrastructural developments have resulted in a growing demand for machinery and other materials giving rise to a rare trade deficit.