Economic Impact Keeps the World Ticking

Economic Impact Keeps the World Ticking

Many analysts have expressed alarm about the impact of China's growing dominance in global trade. Yes, despite the combined effects of the coronavirus pandemic and the trade wars involving the US and China, multiple indicators suggest that China will continue to grow impressively through the next year. In fact, China is likely to become one of the foremost contributors to global trade growth in 2022 and beyond.

Undoubtedly, China's economy is currently on a positive trajectory. All the crucial indicators look good for China's 2022 prospects. Considering factors like the Purchasing Managers' Indexes (or PMI), banking lending, and electricity consumption, all seems to be well and booming for China. In contrast to what many thought, China's consumer demand actually experienced a significant increase in 2020 and 2021. The domestic and foreign market demands grew strong. No wonder the Chinese government has continued to invest heavily in efforts to turn China into a veritable tech superpower; for the most part, these efforts have paid off handsomely.

What makes China's economy so competitive in the 21st century? China's rapid economic growth since 1949 has done much to boost the livelihoods of millions of citizens. But think of these statistics: According to a study carried out by the Peking University research scholars in 2016, some shocking facts call for urgent attention. The study revealed that 1% of China's richest households actually hold 1/3 of the nation's total wealth. On the other hand, the poorest 25% of Chinese families have a mere 1% of the nation's wealth.

As noted, one major point of anxiety is China's economic growth trajectory. The economy slowed down a little in the past few decades, and this had some policymakers worried. In 2020 the Chinese economy surprised all and sundry by growing by 2.3% in spite of the raging Covid-19 pandemic. However, pundits observed that this was the slowest economic growth pace since the death of the legendary Mao Tse Tung in 1976. But China had actually achieved a distinction- she became the only major world economy to grow significantly at a time the Covid- 19 pandemic was gripping the entire globe. Some experts are also worried about China's large accumulation of debt. They are anxious about a looming debt crisis. At the same time, the continued volatility of China's stock market raised questions about the country's ability to implement proper economic reforms. Unperturbed, the Chinese ruling authorities have acted to seize control of both state-owned and private companies.

China's political elite has endeavored to embed its wings across every layer of Chinese society and economy to ensure everything is in control. Nevertheless, China's key governance structures are mostly decentralized. Many Chinese provinces actually enjoy an impressive level of autonomy. China's sub-provincial officials and other leaders appointed by the central authority have virtual control over the way local governance is managed. However, as we advance to the decades beyond 2021, China must endeavor to address other pertinent issues. As noted, the government must address the massive economic disparity that has bedeviled the country for more than five decades.

But there are a few complexities lurking behind the headlines. In the first place, China has experienced heavy inflation in basic food prices over most of 2021. This was primarily driven by the dynamics of the raging Sino- US trade wars. Notably, analysts observed that the typical Chinese household budget is currently characterized by significant spending on food. Overall, the Covid-19 pandemic did not affect China's economy anywhere near what analysts had earlier predicted.

To illustrate, the transition to remote working (for most office workers) went on much more smoothly than most people expected. It even occurred without a net loss to the national economy. Elsewhere, of course, the story was the same. For example, in the US, remote workers actually contributed a whopping $1.2 trillion to the national economy in a single year- 2020. This was an impressive 22% increase from the 2019 figures. In China, this was even more pronounced.

The prospects for increased foreign trade beyond 2021 seem to be encouraging. In the next year, the world is likely to see the nation's share of global trade growing rapidly over the course of the years. Looking back at the pre-pandemic trend, China significantly increased its volume of high-value finished goods. As a result, there's a high demand for Chinese goods- both domestically and abroad.

Liang Ming, who works for the Chinese Academy of International Trade, recently made an interesting prediction. The scholar predicted that China's total foreign trade would reach somewhere near 5 and a half trillion dollars in December 2021. Interestingly, a short while after the scholar made his prediction, analysts observed that China's market conditions have become much more positive for most regular exporters.

Primary Anchors of Political Stability in China

Primary Anchors of Political Stability in China

China boasts a fairly sound political system. The country's renowned socialist political mechanism has, over time, proved itself to be practical, feasible, and efficient. The Chinese system seems to have the necessary vitality primarily because it's a homegrown socialist structure. As China's President Xi Jinping recently pointed out, "The key to developing our unique socialist democracy continues to expand rather than weaken our characteristics and advantages." How does China's political system compare with other systems? How does it compare with American democracy?

Pundits note that when people enjoy adequate provision of national public welfare goods, this promotes the nurturing of strong public order. Such services and products are essential to protect and promote the well-being of citizens. They note that all citizens- though not always visible and tangible- are needed to develop the country at all times. Hence, if a political system finds itself unable to establish a proper national order- or has challenges maintaining it for extended periods- it then finds it impossible to continue holding power or making meaningful progress in national governance.

Pundits also observe that for most emerging nations like China, if political disturbances cause constant regime changes, there won't be any meaningful economic or social stability; these would simply not exist. Hence, it's easy to understand why most countries that have experienced a "color revolution" inevitably sunk into chaos. These may be characterized by a shortage of essential items, frequent violent conflicts, and soaring prices of basic commodities. Inevitably, this also leads to a precarious state of life and national instability.

Many experts of political science generally observe that two main conditions are necessary for any system to function. First, they note that the system must be homegrown; it must originate from the home environment rather than being a replica of something borrowed from other places. Secondly, the system should have the capacity to respond to changes occurring in the external environment. Moreover, such a response must be timely and must facilitate necessary sensible reforms.

The ruling Communist Party of China (which was founded in 1949) greatly cherishes the continued stability of political order. Many observers note that China went through disturbing long-term political wars leading to frequent wars. Many of those who witnessed such events were left with unforgettable memories of tragic events. In retrospect, China's ultra-large population, running to 1.4 billion, would potentially make it hugely challenging for any system to initiate sufficient control. China's Communist Party is certainly committed to ensuring that the supply of public welfare products is achieved to the proper degree for the people's benefit. The ruling party constantly strives to maintain national order. Thus, the Communist Party of China has continued to increase investment in the national defense system with a view to building a strong army that can effectively handle any aggression.

By way of contrast, the situation in many other countries has demonstrated that political stability can be elusive. For example, in Western Europe, the emergence of right-wing populists after the arrival of refugees in countries like France and the Netherlands has had a significant impact on these countries' political elections. Other nations have been disturbed by large-scale riots, terror threats from various groups, and insurgent movements. Many other countries are beset by disturbing military coups and unusual political interferences.

In response to such possibilities, China's ruling elite was prompted by recent events to abandon its cherished "one country, two systems" philosophy respecting entities like Hong Kong. The massive protests witnessed in Hong Kong in 2019 sharply drove home these clear realities. The philosophy and governance formula developed for Hong Kong was abandoned in all but name. It seems evident that China has virtually given up the idea of luring Taiwan towards reunification.

China's President, Xi Jinping, has consistently championed a vision that would transform the country into "a rich, fully developed, powerful nation that boasts an enduring international influence." The President is committed to ensuring China achieves this noble milestone by 2049. Further, China's ruling Communist Party has worked tirelessly to achieve these goals by ensuring the military is modernized. The CPP has pursued an aggressive extensive land reclamation policy touching on disputed lands located in the South China Sea. The party has continued investing billions of dollars in several countries worldwide and assuming an active role in many international institutions.

The CPP has primarily done this through the massive Belt and Road Initiative. One expert in China's international policy and affairs recently noted: "President Xi has made it crystal clear that his core ambitions will not stop with matters of the Asia-Pacific region; instead, he seeks to re-make the issue of global order. He seeks to reinvent the rules of the road in a manner that suits China more. We hope this policy also puts international brotherhood into consideration."

Exploring Shanghai City Tourist Destinations

Exploring Shanghai City Tourist Destinations

Undoubtedly, Shanghai is one of China's true gems. With its unforgettable ambiance, a vast collection of tourist attractions, divine cuisine, and numerous art collections, Shanghai has continued to draw millions of tourists to its heart over the years. Unsurprisingly, planning a trip to this bustling city can be thrilling. Yes, visiting Shanghai guarantees anyone a memorable experience; after all, this is one of China's largest and most beautiful cities.

Marvel at the Bund's Vintage Skyscraper

You can start your day by walking around the Bund or cruise along the 500m wide Huangpu River as you enjoy a sprawling view of the Shanghai city skyline. Yes, the Bund offers a beautiful display of Shanghai's classical architecture and its numerous skyscrapers. As a suggestion, while still at the Bund, consider taking your breakfast at the historic Grand Kempinski Hotel Shanghai.

The hotel offers world-class breakfast, delicious lunches, and snacks combined with exotic teas. The breakfast prepared here is one that every visitor to the city will undoubtedly appreciate. You can savor your breakfast on the terrace or inside the artistically designed café. Subsequently, you may spend the rest of the morning enjoying the lush green spaces at Yuyuan Garden. The garden boasts colorful pagodas, decorated bridges, and intimate enclaves separated by dragon walls with the state-of-the-art decor at the top.

If you still have energy and a little money to spare, you can spend the rest of the day at the traditional Longhua Temple. The incredible temple is one of China's largest and oldest architectures, built in the 10th century. The building has undergone a violent history coupled with years of war and fire. As a result, much of the building has been renovated. However, the building has recently retained its original features and is today considered the most authentic temple in the city. If you're looking for an awe- inspiring place to visit, Longhua temple is definitely the place.

Enjoy the Delightful Panorama at Shanghai Tower

Remarkably, Shanghai Tower is the second tallest building in the world after Dubai's Burj Khalifa tower. The building has received international acclaim for its many attractive features. These include a thermos-like double skin face, cylindrical shape fitted with some of the world's fastest elevators.

You can savor the delights of China's ancient life by visiting the Shanghai National Museum and Shanghai Urban Planning Exhibition Hall. Furthermore, you have a lifetime's chance to relish the magnificence of the Shanghai National Museum. The museum is strategically located at the heart of People's Square; it has an artistic design that makes it resemble ";a cooking pot."; The site is ideal for family members interested in experiencing the systemic and perfectly arranged display of different cultural objects of the ancient Chinese. The museum is partitioned into different sections with careful attention to the subjects and historical periods. There are many exciting images, engraved sculptures, and other essential objects of archaeological and historical significance.

At the end of the trip, you may visit the Shanghai Urban Planning Exhibition Hall; the hall is adjacent to the Municipal Government Building on the People's Square. Here you'll enjoy a wide range of informative ideas about the growth of Shanghai City; yes, you'll learn how the city grew from a small fishing center to a thriving metropolitan city.

The center's exhibitions spread across five stories and two basement levels; they cover the history of Shanghai's rise as well as upcoming developments. Most importantly, you can walk to the center of the exhibition floor, which features a massive model of Shanghai city. Try to visit the little theatre room with a perfect display of a 3D virtual reality video; this will definitely gift you a soaring view of Shanghai's skies. The room provides a great deal of information about Shanghai's historical architecture, its rich colonial history, and the rising skyscrapers. As you exit the building, observe a 1930 Old Shanghai Old Street model recreation, complete with photographs, old timely features, and vintage cars. To cap it all, you can enjoy a truly delicious dinner at a cafe on the third floor as you savor the beautiful view of People's Square.

Generally, Shanghai is one of the most exciting cities to visit in China. Regardless, it's essential to take time to plan well before visiting one of China's most prominent and fast-growing metropolises. So whenever you get the urge to explore, these are some of the best places to tour in Shanghai.

Profitable Industries to Invest in

Profitable Industries to Invest in

Many people have described China as a hotbed of investment opportunities. Of course, this can be attributed to the ease of doing business in China compared to the other Asian countries. Undoubtedly, China is one of Asia's largest economies with a rapidly growing consumer base and unparalleled global market access. Additionally, the country's strategic economic and geographical location enables her to enjoy connectivity with the rest of the world; this also opens up the country to global investors.

China boasts of a vibrant capital market with a well-established private and public sector. If you're looking for the best industries to put your money into, consider trying a few exciting ideas to ensure you get value for money in this vast land of opportunities; yes, you can make it all succeed.

Investments in the Copper Ore Mining Industry

The revenue from mining copper ores in China is projected to increase to about 0.8 percent in the next five years. This is a result of the growing demand for copper products in the global market. With the ever-rising cost of copper prices, the revenue has increased by 0.9 percent in 2017, totaling $ 13.2 trillion. True, the copper industry experienced a sharp drop of 0.3%; in 2018. This was a direct result of weak downstream demand. There was a further drop in 2020 due to lockdowns associated with the pandemic. But with the lifting of restrictions and a revamping of the economy, the industry is expected to experience a dramatic rise in profit margins in the future.

Investments in the Building and Construction Industry

The building and construction industry has experienced steady growth for the last five years. The annual growth rate is projected to be 4.8%;; this includes an expected increase of 5.6%; in the recent financial year. China currently has approximately 32,900 building and construction firms. Most firms deal with real estate development, manufacture of building materials, plan design, construction equipment, and professional engineering services. By spreading their activities across different sectors of the economy, the firms are able to decrease costs, maintain profit margins and maintain stable sources of supplies.

Investments in Real Estate Development

For the next five years, the Chinese government expects to generate 6.0%; revenue from real estate development; this amounts to $2.1 trillion. The trend includes 6.0%; in the current financial year. The steady growth derives from a strong housing demand over the last ten years. With China's ever-increasing population and rapid development of towns and cities, the demand for residential houses is likely to continue growing. Increasing household income levels and low taxation has continued to motivate people to buy homes. Currently, approximately 98,417 developers are operating in the industry, employing nearly 2.6 million people.

Investments in China's Online Shopping Industry

Over the next few years, the online shopping business in China is projected to grow at 22.5 %; annually, with projected revenue totaling $1.8 trillion. The projected trend includes some 20.1%; growth expectations. The online shopping industry's rapid rise is attributed to the growing popularity of e-commerce in China. Moreover, the venture has received a significant boost from the increasing number of mobile internet users. Similarly, more online purchases have increased even after the pandemic outbreak, further boosting the industry's sales revenue.

Investments in the Software Development Industry

China's software development industry has steadily grown over the past years. There is a projected annual growth of 7.5%; for the next few years. The growing demand is a result of the increasing number of downstream software users. The Chinese government has steadily supported the software industry through the introduction of solid pricing. The government is also planning to invest in the software industry to make it a first-class sector; this will undoubtedly help the country become a first-class, innovation-driven, high-tech nation.

Investments in the Engineering Service Industry

The rapid growth in China's economy has provided a significant market for engineering services for several decades. Further, recent government reforms have boosted the commercialization of engineering technology. In recent times, the revenue from engineering services remarkably hit an estimated $885.6 billion. This impressive growth went up by 6.0%; from the previous year. Overall, in the past few years, there has been a steady revenue growth at an annual rate of 9.2%;. This is truly exciting.