China’s economic growth has recently weakened despite showing no such trend in most of 2018. It is projected to decline in 2019-20 due to the weakening of industrial production, profits and revenues. Foreign trade flows will lose some momentum following the escalation of trade tensions with major importers like USA. The slowdown of activity also reflects the cutback of infrastructure investment by China, as local government debt has been subject to greater scrutiny, though it could rebound following the recent acceleration of debt issuance and announcement of new projects.
China’s is easing monetary conditions to support it’s economic activity. The escalation of trade tensions resulted in a fall of the exchange rate, which was halted by government interventions, and a decline in stock prices.
Goods exports and imports is expected to slow down, though import tariff cuts recently introduced by China and an increased VAT refund on exported products will mitigate the impact of trade tensions. Round tripping of exports destined to the USA market through third countries is not affected by tariff hikes and is already picking up. Also surging overseas tourism is expected to reduce the current account surplus.
China’s trade frictions are expected to disproportionately affect smaller firms that are less able to maintain profit margins to accommodate the tariff hikes and some geographical regions that are more reliant on exports for their growth.
In World Bank’s ease of doing business ranking Australia was ranked 46 out of 190 countries in 2018. China’s ease of doing business ranking improved from 78th position in 2017.
China, an ancient, mysterious and beautiful land, is always appealing to adventurous foreign visitors China, officially the People’s Republic of China, is a sovereign state located in East Asia. It is the world’s most populous country, with a population of over 1.38 billion. The PRC is a single-party state governed by the Communist Party, with its seat of government in the capital city of Beijing. It exercises jurisdiction over twenty two provinces, five autonomous regions, four direct-controlled municipalities, such as Beijing, Tianjin, Shanghai, and Chongqing, and two mostly self-governing special administrative regions, such as Hong Kong and Macau.
China had estimated population of 1382.71 million in the year 2016 and expected to reach 1432.26 million by 2022. China’s unemployment rate was 4.02% of total labor force in the same year. China’s real gross domestic product (GDP) was around CNY 74594.98 billions in 2016 whereas the nominal GDP was CNY 74539.62 billions. This resulted in GDP deflator 99.926. Per capita GDP was estimated at USD 8113.26 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 21291.77.
In 2016, Chinese government’s revenue was CNY 21042.65 billions whereas the expenditure was CNY 23818.14 billions. This resulted Chinese government’s net lending / borrowing negative at CNY 2775.49 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for China was estimated to be at USD 196.38 billions for the year 2016 and is expected to decrease at a CAGR of 8.10% and reach USD 168.442 by 2022.
Scope of China – PESTLE Analysis and Macroeconomic Trends Report
– This report provides information about key macroeconomic indicators for China.
– This report provides PESTLE (political, economic, social, technological,legal and environmental) analysis for China.
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