China’s economic and social statistics 2012

26 Feb

http://www.globaltimes.cn/content/763623.shtml

An interesting graphics-based article regarding China’s economic and social development over the past year using statistics from the National Bureau of Statistics of China 2013.

Noteworthy statistics include:

-GDP increase of 7.8% in 2012

-Completed investment in the fixed assets of the country increase of 20.3% in 2012

-Retail sales of consumer goods increase of 14.3% in 2012

-Per capita disposable income of urban households increase of 9.6% in 2012

-Increase in foreign exchange reserves of $130.4bn in 2012

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2 Responses to “China’s economic and social statistics 2012”

  1. na8g10 February 26, 2013 at 11:49 am #

    There are some very interesting graphics on that website.

    It shows that the total number of the Chinese population on the mainland has also increased by 6.69 million, which is a huge amount. It’s also interesting to note that despite these huge increases in people moving to the mainland and their population in general, China’s unemployment rate rarely suffers, and their all-time high unemployment rate is 4.3% which was in December 2003 and is 4.1% at the moment. For comparison, the UK’s at the minute is 7.8%, 3.5% higher than China have ever had. The fact that China has consistently been able to produce jobs for their ever increasing labour force is a key factor for their economic prosperity over the last few years. I think they’re unemployment rate will only move one way and that’s upwards.

    The inequality in China is in the news fairly often so it’s interesting to see that net income per capita of rural households has increased every year from 2008 to 2012. Obviously it’s also important to note that people living in the rural areas are probably seeing a bigger increase, therefore you can understand how there is a growing level of inequality as well.

    China are in a precarious position with their economy, statistics wise they look like they’re in pretty good shape, inflation has been fairly constant over 2012, GDP is still at a very high level. But surely it’s impossible for a country to continue growing like this? A look into business cycle theory will tell you that a bust (recession) is surely on its way soon for China so it’s a very interesting economy to keep an eye on.

    Source

    1http://www.tradingeconomics.com/china/unemployment-rate

  2. np2g11 February 26, 2013 at 4:23 pm #

    It is interesting to see how China has now become the biggest trading nation in goods, considering that it opened its markets to trade just about 30 years ago. China is becoming the preferred commercial partner for goods and in 2012 the combined total for imports and exports of goods reached $3.87tn compared to the $3.82tn of the US. This means that China is becoming a bigger trader than the US, but at the same time it relies hugely on trade with other countries. This leads to consider that such integration in the world economy is making and will make China more and more dependent and sensitive to the changes in the market. The rapid increase of inflation is certainly a consequence of China’s adherence to the laws of the market by pegging the RMB to the dollar. It is fair to ask then if China will keep growing that fast or if we can expect a recession due to its dependence on trade.

    http://www.guardian.co.uk/business/2013/feb/11/china-worlds-largest-trading-nation

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