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How has the GDP in China have significance for the nation's development? (Quality of life for...

How has the GDP in China have significance for the nation's development? (Quality of life for the entire population)

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Answer #1

China had made its free market reforms from 1979. Since then China has be one of the fastest growing economy , marking a 9% growth in 2018. This has been a major boost in pulling around 800 million people out of poverty. China is currently the largest economy in terms of purchasing power parity.

Some of the key points in the quality of life of the population

  • The enrollment rate in schools have reached 100% i.e every child in China gets basic education
  • The Life expectancy in China is nearly 73 years which is higher than the world average
  • Nealy 2/3rd of farmers have a health insurance

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