Knowra Economy of China Economy of China China’s system of production, distribution, and consumption combines extensive state involvement with market activity, manufacturing, international trade, and a large domestic market.
Socialist market economy : An economic system combining market mechanisms with public ownership and state direction. This is the official framework for China’s mix of markets and state control.
Chinese economic reform : The policy changes begun in 1978 that expanded markets, foreign investment, and private enterprise in China. These reforms launched the transition toward China’s present mixed economic system.
Chinese manufacturing : Industrial production in China, spanning consumer goods, machinery, electronics, and intermediate components. Manufacturing is a major source of output, employment, and export supply.
China’s accession to the World Trade Organization : China’s entry into the World Trade Organization in 2001, which bound it to global trade rules. Accession accelerated China’s integration into international markets and manufacturing supply chains.
China’s economic slowdown : The deceleration of China’s economic growth from the exceptionally rapid rates of earlier decades. Slower growth raises questions about productivity, consumption, and future policy choices.
State-owned enterprises of China : Businesses owned or controlled by China’s government at central or local levels. They dominate strategic sectors and carry out state economic priorities.
Deng Xiaoping : Chinese political leader who drove the reform and opening-up policies initiated in 1978. His leadership set the direction for market reforms while preserving one-party rule.
China’s foreign trade : China’s imports and exports of goods and services across international markets. Trade links domestic production to global demand and imported resources.
China shock : The rapid increase in Chinese import competition that affected manufacturing employment in several economies. It captures local labor-market costs associated with China’s export growth.
China’s debt : Borrowing by Chinese households, businesses, and government entities across formal and less transparent channels. Debt levels complicate efforts to support growth while limiting financial risk.
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