_Macroeconomic Goals
Inflation - As of 2010 the inflation rate was at 3.2%, putting China at 107 compared to the rest of the world. Compared to Singapore at 2.8%, they are number 96 in the world. As long as what the government is doing right now inflation should not be a problem. Currently inflation is slowing in China. Prices of food and non-food items slowed over the past couple months.
Unemployment – Unemployment Rate is at 4.3% (2011-2nd quarter). This puts China at #57 to the rest of the world. Singapore is at #18 with an unemployment rate of 2.20% (est 2010). This rate of 6.1% is for the urban areas of China. If we were to include migrant workers the rate could jump to 9%. The more rural areas have a much higher unemployment rate.
REAL GDP - Real Growth Rate – 10.3% (2010 est) making China #6 in the world. Singapore is #3 in the world at 14.5 % (2010 est)
GDP per capita
China - $7600 (2010 est), #125
Singapore - $62,100 (2010 est), #5
China’s Real GDP ranking is not consistent with the per capita GDP ranking. This is because there are so many people in China that still live below the poverty level. 21.5 million rural population live below the official "absolute poverty" line (approximately $90 per year); an additional 35.5 million rural population live above that level but below the official "low income" line (approximately $125 per year).
Singapore's Real GDP and per capita GDP rankings are consistent with each other. Most people live above the poverty levels.
Economic Growth - The Chinese government is looking to other sources, such as, nuclear & alternative energy developments for energy production besides coal & oil. The economic growth for China is looking good. They are on the right track right now of where there economy is going. The unemployment rates aren't too high and inflation rates are at a good place. The government is holding rates steady at this time to keep moving in the right direction. This is an improvement for China from the past.
China is doing good and can learn from Singapore's examples. Singapore will always have the port business that brings in a good amount of income for them.
The biggest concern for China I would say is the GDP per capita. There are still so many people in China living in poverty and third world conditions. The government is working to put plans into place to get subways to the more rural areas so that these people can commute to the cities for work and to improve their lives and living situations.
Inflation - As of 2010 the inflation rate was at 3.2%, putting China at 107 compared to the rest of the world. Compared to Singapore at 2.8%, they are number 96 in the world. As long as what the government is doing right now inflation should not be a problem. Currently inflation is slowing in China. Prices of food and non-food items slowed over the past couple months.
Unemployment – Unemployment Rate is at 4.3% (2011-2nd quarter). This puts China at #57 to the rest of the world. Singapore is at #18 with an unemployment rate of 2.20% (est 2010). This rate of 6.1% is for the urban areas of China. If we were to include migrant workers the rate could jump to 9%. The more rural areas have a much higher unemployment rate.
REAL GDP - Real Growth Rate – 10.3% (2010 est) making China #6 in the world. Singapore is #3 in the world at 14.5 % (2010 est)
GDP per capita
China - $7600 (2010 est), #125
Singapore - $62,100 (2010 est), #5
China’s Real GDP ranking is not consistent with the per capita GDP ranking. This is because there are so many people in China that still live below the poverty level. 21.5 million rural population live below the official "absolute poverty" line (approximately $90 per year); an additional 35.5 million rural population live above that level but below the official "low income" line (approximately $125 per year).
Singapore's Real GDP and per capita GDP rankings are consistent with each other. Most people live above the poverty levels.
Economic Growth - The Chinese government is looking to other sources, such as, nuclear & alternative energy developments for energy production besides coal & oil. The economic growth for China is looking good. They are on the right track right now of where there economy is going. The unemployment rates aren't too high and inflation rates are at a good place. The government is holding rates steady at this time to keep moving in the right direction. This is an improvement for China from the past.
China is doing good and can learn from Singapore's examples. Singapore will always have the port business that brings in a good amount of income for them.
The biggest concern for China I would say is the GDP per capita. There are still so many people in China living in poverty and third world conditions. The government is working to put plans into place to get subways to the more rural areas so that these people can commute to the cities for work and to improve their lives and living situations.