Saturday, April 19, 2014 10:44 PM PDT

China

The People's Republic of China (PRC) is the most extensive country in East Asia and the third or fourth most extensive country in the world. With a population of over 1.3 billion people, it is the most populous country in the world.
   
The Communist Party of China (CPC) created the PRC in 1949 after defeating the Republic of China (ROC) in a civil war lasting from 1946 to 1950. China remains one of the few remaining officially communist/socialist states in the world, although its government, economics, and society can no longer be convincingly qualified as such. After Deng Xiaoping initiated the “reform and opening” period in the 1980s, which reintegrated China with world trade and dramatically increased its economic growth, the country’s government has referred to its political system as “socialism with Chinese characteristics.”  
  
The term "Mainland China" is used to denote the areas under PRC rule, but excludes its two Special Administrative Regions: Hong Kong and Macau. Since the ROC and its main political party, the Nationalists or Guomindang (GMD) retreated to Taiwan, both mainland and Taiwanese governments have disputed the political status of the island. Efforts to assert de jure independence from the Taiwanese independence movement in the late 1990s created friction with the mainland, but the further lifting of trade, travel, and investment restrictions over past years have resulted in a period of warming relations. 
 
Because of its vast population, rapidly growing economy, and large research and development investments, China is considered an "emerging superpower". In past years, it has consistently shown yearly double digit growth, which eventually allowed the country to become world's second largest economy in both nominal and purchasing power parity terms. According to various international groups, China passed Japan to become the world’s second largest economy at the end of 2010. The International Monetary Fund and World Bank respectively predict that China’s economy will become the world’s largest by 2017 or 2030.  The government is currently trying to adjust the economy in two significant ways: first by slowing growth and preventing the economy from overheating; second by rebalancing to orient from export-driven to domestic-consumption driven growth.
 
China plays a critical role in international trade. The country is the world's largest consumer of steel and concrete, using, respectively, a third and over a half of the world's supply of each. Counting all products, China is the second largest importer and the largest exporter in the world.
However, in per capita terms, the country largely remains a developing nation, ranking 90th in the world with the average person making only more than $5,400 a year in 2011 (IMF). However, people living in relatively developed large urban areas in the coastal regions, especially in Beijing, Shanghai, and Guangzhou have living standards increasingly comparable to those in South Korea and Japan.
 
China is also a permanent member of the United Nations Security Council and the Asia-Pacific Economic Cooperation Organization. Since 1978, China's economic reforms have lifted hundreds of millions out of poverty. However, the country is now faced with a number of other economic problems, including an aging population, an increasing rural-urban income gap, and rapid environmental degradation.

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Articles About China

Nico Rosberg
Formula One Where to Watch Live: Chinese GP 2014 Live Streaming Information

By IBTimes IN

Rain was unrelenting in all three qualifying sessions in the Chinese GP in Shanghai as Mercedes driver Lewis Hamilton led the way yet again - his third pole position this season. (10:36 pm)

MORE TOPICS: UNITED KINGDOM, GERMANY, AUSTRALIA, INDIA

File photo of cars made by South Korea's Hyundai Motor Group on a truck at the company's shipping yard at a port in Pyeongtaek
Hyundai Teases ix25 Compact SUV

By IBTimes IN

Korean auto major Hyundai's much awaited compact SUV ix25 made yet another appearance on the internet, this time through the official teaser. (3:12 am)

MORE TOPICS: INDIA

Apple's iPhone 5Cs are displayed on racks bearing the logo of China Mobile in Beijing
Apple Inc (AAPL) Early June Quarter Estimates May Alarm Investors

By IBTimes AU

For Apple Inc.'s investors who expect a strong June quarter, Chuck Jones, a prominent writer of Forbes, has lower expectations. Wall Street's predictions for Apple's June quarter is equally disappointing for those hoping for a big Apple comeback. (Apr 17)

MORE TOPICS: IPHONE, APPLE INC., SMARTPHONE, SAMSUNG, IPAD, ANDROID

LG L65 Dual SIM Mid-Range Smartphone with Android KitKat OS Launched
LG L65 Dual SIM Mid-Range Smartphone with Android KitKat OS Launched; Price, Specifications Details

By IBTimes IN

South Korean consumer electronics giant LG has launched a new mid-range smartphone, dubbed L65, as part of the company's flagship Series 3 handsets. (Apr 17)

MORE TOPICS: RUSSIA, INDIA, SMARTPHONE, ANDROID

Lewis Hamilton Mercedes
Formula One News: Hamilton Eyeing Hat-Trick of Wins in Shanghai

By IBTimes IN Special

Fresh from back-to-back victories, Lewis Hamilton will look to extend his winning streak to three in this weekend's Formula One Chinese Grand Prix at the Shanghai International Circuit. (Apr 16)

MORE TOPICS: INDIA, SILVER

Gold Near Two-week High as Ukraine Tensions Boost Safe-haven Bids
Gold Holds Above $1,300 on Ukraine; Fund Outflows Pose Risk

By Reuters

Gold held steady just above $1,300 an ounce on Thursday supported by tensions in Ukraine, but the metal was at the risk of adding to recent losses as the world's biggest gold-backed fund saw its sharpest outflow in nearly four months. (Apr 16)

MORE TOPICS: GOLD, UKRAINE

Narandra Modi has finally confessed that he is married to 'Jashodaben' causing a spate of outrage in social media.
Modi Says Committed to no First Use of Nuclear Weapons

By Reuters

Prime ministerial frontrunner Narendra Modi ruled out the first use of nuclear weapons on Wednesday, seeking to calm concerns after his Hindu nationalist party vowed to revise arms strategy if elected. (Apr 16)

MORE TOPICS: NUCLEAR WEAPONS, PAKISTAN, COURT, INDIA, SUPREME COURT, CONGRESS

Foreign market participants view the domestic stock market as risky and its bond market is seen as underdeveloped compared to the West (Photo: Reuters)
Global Markets Overview – 4/17/14

By IG Markets

US equities advanced yet again as earnings continued to underpin confidence in the recovery and US data encouraged. With no fresh negative tape out of the Ukraine sentiment remained positive. (Apr 16)

MORE TOPICS: TWITTER, FACEBOOK, GDP, COPPER, UKRAINE

US Housing Starts
Australian Stock Market Report – Morning 4/17/14

By Comsec

In US economic data, housing starts rose by 2.8% to an annual rate of 946,000 in March, below expectations for a result near 973,000. Industrial production rose by 0.7% in March, above expectations for a gain of 0. (Apr 16)

MORE TOPICS: GOLD, FEDERAL RESERVE, UNEMPLOYMENT, DOW JONES, FTSE, TWITTER

A man travelling on a stolen passport on the missing Malaysian Airlines flight MH370 was a young Iranian who has no links to terrorists.
Malaysian Airlines Flight 370: Despite Repeated Warnings, Hoax Video That Says Missing Jet Found in Indian Ocean Persists

By IBTimes AU

Hoax video makers continue to have a field day over social media sites, fooling people into believing that the missing Malaysian Airlines Boeing 777 jet was found. These sites trick readers by using catchy titles such as Shocking Video but frustrate ... (Apr 16)

MORE TOPICS: JOURNALISM

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