China, also referred to as the People’s Republic of China, is an autonomous state located on the Eastern side of Asia.Its large population of 1.4 billion people makes it the highest populated country in the world.It takes second place for having the greatest coverage of land area, and takes third or fourth place for having the most vast total area coverage as a country.China’s communist party is in charge of the well being and the progress the 22 provinces in the country.It is important to note that China is made up of five autonomous regions that are under direct ruling.
China was among the earliest civilizations when it appeared from the Yellow River basin in the plain of North China.In the early ages, the political system of China was controlled by dynasties, or rather; hereditary monarchies.Later; the ROC exterminated the dynasty tradition when it took over the country in the year 1949.Since the introduction of economic reforms in China, its economy has experienced a considerable growth.The economy of China was ranked as the best in 2016 as its purchasing power parity was highest.In the imports and exports sector, China lead s in the exports and is second in the imports.
China is a country that is recognized for having some of the most powerful nuclear weapons as it also has the largest army in the world.Its budget on defense measures is therefore high, landing it to the second highest defense budget on a worldwide basis.The Peoples Republic of China is a member of the United Nations as it joined in the year 1971, having replaced the Republic of China.Other organizations that have China as one of its members are the WTO, BRICS, BCIM, Shanghai Cooperation Organization, G20 and APEC.
China is one of the many countries that are part of the World Trade Organization.China has been able to largely contribute to the creation of open trade regions in the Asia and Pacific regions.The United States Congress accepted the permanent normal trade relations with China in 2000.This allowed the Chinese exports to get into the United States at similarly low rates as majority of other countries.This triggered some US politicians who made claims that the Yuan had more value than claimed to receive the special treatment they were getting.
It is evident that the positive relationship that has been created between China and the United States has played a role in the economic development of each country.The current partnership that China has been building with a couple of African countries has already started making a significant impact on the nation’s economy.As China is a great trading partner with different countries all the world, its collaboration with some of the most influential South American nations has resulted in the development of the country as a whole.