China is a state that is positioned in the Eastern region of Asia.It is popularly known for a variety of significant aspects such as having the highest population in the world, which is 1.4 billion.China has been recognized to be the second country for having a hefty land area that supports the growing of various crops as well as residential land for the people.It controls 22 territories which are ruled by the Communist Organization of China.It is important to note that China is made up of five autonomous regions that are under direct ruling.
China was among the earliest civilizations when it appeared from the Yellow River basin in the plain of North China.During the early times, China was under the rule of dynasties.They were later overthrown by the Republic of China which was in charge of the Chinese mainland until 1949.As the economic reforms were introduced to China in 1978, its economy has grown at a swift rate as compared to most of the other countries in the world.In 2016, it was ranked first for having the largest economy in reference to the purchasing power parity and the second position in reference to nominal GDP.In reference to trade, China makes the most exports in the world, and takes second place for making the most imports.
In addition to having the largest group of army members, it is equipped with nuclear weapons of great power.Its budget on defense measures is therefore high, landing it to the second highest defense budget on a worldwide basis.The Peoples Republic of China is a member of the United Nations as it joined in the year 1971, having replaced the Republic of China.It is also part of other agencies, some of them including BRICS, APEC, BCIM, G20, WTO, and the Shanghai Cooperation Organization.
China is one of the many countries that are part of the World Trade Organization.It has made a huge impact in creating free trade areas in the Asia-Pacific region.The United States Congress accepted the permanent normal trade relations with China in 2000.This undertaking enabled the exports from China to get into the United States of America at significantly low prices.There was a time when a significant group of politicians in the United States of America claimed that the Chinese Yuan was being undervalued, thus receiving unfair trade benefits.
It is evident that the positive relationship that has been created between China and the United States has played a role in the economic development of each country.The collaboration of China with a number of African nations is also making an impact to the country’s economic state.As China is a great trading partner with different countries all the world, its collaboration with some of the most influential South American nations has resulted in the development of the country as a whole.