10 things to know about the Chinese economy


After more than twenty years of double-digit growth, the Chinese economy could grow "only" by 7.5% this year . According to economists it is not good news for anyone: the only Chinese public debt (on which the government ordered an audit on July 29th, ed) not supported by GDP growth would be able to trigger a global financial crisis. Of course it is not certain that it will happen. But in the coming months the Dragon economy could gain the front pages of newspapers too.
Here are 10 useful (and curious) things to know …
1. 10 times GDP
From 1978 to the present, the GDP (gross domestic product) of China has multiplied tenfold, making China the second largest economy in the world after the United States. Experts are convinced that overtaking will occur by 2020.
2 The Chinese "own" the USA
China has 1, 200 billion dollars in T-bonds, the US treasury bonds, which corresponds to around 10% of the entire US public debt. Not only: 80% of the Walmart supermarket chain suppliers, the most loved by the Americans, are also Chinese.
3. Rich and poor
More than 135 million Chinese have an income level below the poverty line. This is more than 10% of the Chinese population.
According to the Hurun Wealth Report, one in 1, 300 Chinese has more than a million dollars. In total in the country there are 1 million and 20 thousand rich, and of these around 63.500 have a personal patrimony of over 10 million euros.
4. Feel like fresh air, computers and mobile phones
China produces 80 air conditioners for every thousand people, compared to 4.8 units produced per thousand people in the rest of the world. The computers produced are instead 283 per thousand people (compared to 5.9 units in the rest of the world).
Even in mobile phones it's unbeatable: China Mobile is the largest provider of telephony services in the world, with a total of 558.9 million subscribers. And 841 mobile phones are produced in the country per 1, 000 people (only 83.6 per 1, 000 people in other countries).

Engineers of the people: the best of Chinese do-it-yourself GO TO GALLERY (N photos)

5. Pig to whom?
Pork is a highly prized animal in China, so much so that it appears stylized even in some ideograms, as well as in the horoscope. But it is above all the basic ingredient of many local cuisines, to the point that every year 51.5 million tons of pork are produced: around 50% of the entire world production.
6. Unique children
Although his workforce has been able to produce surprising results over the past twenty years, the Chinese government tries to limit its growth through the well-known one-child policy: families cannot have more than one child . The law is very strict in this regard and it seems that - according to a survey - 75% of the population approve.
7. Campaign beats cities
According to some studies, by 2015, China's urban population is expected to reach 700 million people. To date it represents "only" 43% of the entire population that largely continues to live in the countryside, where there are often situations of great poverty and lack of water and transport.
8. Cement fever
The Chinese real estate boom meant that the country could produce 60% of the world's cement, changing the metropolitan landscape overnight. Some skyscrapers of new construction, however, would already be at risk : in March a commission of inquiry discovered for example that in the city of Shenzen some construction companies would use cement under cost, endangering the stability of at least 15 buildings.
9. The bubble lurking
And there are already those who talk about the real estate bubble: in China it is estimated there are 64 million empty houses with entire ghost towns. But the buildings do not stop and it is expected that in 2025 the country will have a sufficient number of skyscrapers to fill 10 New York.
10. Christmas in China
China is considered the factory of the world: among other things it produces 85% of artificial Christmas trees and 80% of toys around the world. In short, without her, Christmas goodbye.
See also: happy birthday China.

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The price of the Chinese economic boom GO TO GALLERY (N photos)

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