Question

In 21st century, China has climbed to the second largest economy of the world
with average per-capita annual income 30,000 yuan. Recently, Premier Li
Kequiang said, “China has over 600 million people whose monthly income is 1,000
yuan.” Does it imply China has successfully gone though the economic transition?
What are the challenges ahead? Please explain.

Answer 1

China is very largest economy in this century .but recent some challenges negatively affect china more than any other country.mostly importent factor is globalisation it is an very importent factor which globally flow of goods,services ,persons ,skill technology etc and making china a prosperous country.This increasing the per capita income of China is happen due to mainly first after effect of globalisation..

but china facing many challanges like trade war with USA ,decreasing Human capital and increase aged population,pandemic covid -19 , chinas aggression also a challenges for it self as other country also boycotted china aceeptence in this regard,and other reason from largest monopoly countries decisions and various world organistion policies like wto and decision which not accepted by the china.

The unemployment and over population etc also reason behind this economic transition.