Wednesday, April 23, 2014 12:59 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

Samsung Galaxy S3
Android v4.4.2 KitKat Update Slated for Samsung Galaxy Note 2, S3 Variants Leaked; Firmware Tipped to Roll Out in May

By IBTimes IN

Amidst growing concerns on whether Samsung Galaxy Note 2 and Galaxy S3 will get the latest KitKat update or not, a report has surfaced online, suggesting that the South Korean company is keen to release the new OS firmware to its 2012 flagship phones probably by next month. (6:18 am)

MORE TOPICS: HP, SAMSUNG, JAPAN, SOUTH KOREA, MANAGEMENT, ANDROID

Samsung Galaxy S4 (Front) with Apple iPhone 5S (Behind) in Seoul, 2013
Samsung Galaxy S3 and Galaxy Note 2 Android 4.4 KitKat Guide: April and May Release, When to Hit Your Region

By IBTimes AU

Samsung users remained on the lookout for announcements about the Android 4.4 and Android 4.4.2 updates. Devices like Samsung Galaxy S4 have received the update although some users may have to wait depending on their region and carrier. (4:50 am)

MORE TOPICS: SAMSUNG, ANDROID

OnePlus One Phablet with CyanogenMod 11S Android KitKat OS, 3GB RAM Unveiled
OnePlus One Phablet with CyanogenMod 11S Android KitKat OS, 3GB RAM Unveiled; Price, Availability Details

By IBTimes IN

The new Chinese technology start-up firm has launched an affordable high-end phablet dubbed as OnePlus One. (3:38 am)

MORE TOPICS: IPHONE, UNITED KINGDOM, SAMSUNG, PORTUGAL, GERMANY, INDIA

John Travolta
IIFA Awards 2014: Hollywood Star John Travolta to Join Bollywood Celebs in Tampa Bay

By IBTimes IN

Hollywood star John Travolta is all set to make his debut appearance at the Indian award ceremony, International Indian Film Academy Awards (IIFA), which is being held in Tampa Bay, Florida. (12:47 am)

MORE TOPICS: INDIA, FLORIDA, E.ON, BOLLYWOOD, HOLLYWOOD

The Singaporean submarine support and rescue vessel, MV Swift Rescue, is prepared before it departs to assist in the search for missing Malaysian Airlines flight MH370 in Singapore, in this 9 March, 2014 handout picture.
Malaysian Airlines Flight 370: Australia Eyes Use of More Powerful Side-Scan Sonar Capable of Reaching Deeper Water

By IBTimes AU

After 10 days of searching the floor of the Indian Ocean for any trace of the missing Malaysian Airlines Boeing 777 jet with zero results so far, Australia is considering the use of more sophisticated search equipment. (10:20 pm)

MORE TOPICS: AUSTRALIA, TONY ABBOTT

Gold Slips Ahead of U.S. Jobs Data; on Track for Third Weekly Loss
Gold Hovers Near 2-1/2 Month Lows on Firm Equities, Fund Outflows

By Reuters

Gold was steady but near its lowest in more than two months on Wednesday, with stronger equities denting the metal's safe-haven appeal and outflows from bullion funds showing weak investor appetite. (9:45 pm)

MORE TOPICS: GOLD, EXISTING HOME SALES, MANUFACTURING, ELECTIONS, INVESTMENT

Iron ore mining likely to restart in January in Goa

By Reuters

Mining in top iron ore-exporting state of Goa is likely to restart in January next year once all companies have obtained environment and forest clearances from the federal government, a state government source said on Tuesday. (9:37 pm)

MORE TOPICS: COURT, INDIA, RIO TINTO, SUPREME COURT, LONDON

Asian shares rise as Fed Minutes Soothe Sentiment
Asian Stocks Flat after China PMI Meets Expectations

By Reuters

Asian stock markets were little moved on Wednesday after a Chinese manufacturing survey met expectations, but the Australian dollar plunged to a two-week low after data showed surprisingly low inflation in that country's economy. (9:32 pm)

MORE TOPICS: GOLD, HSBC, WESTPAC, MANUFACTURING, JAPAN, PFIZER

A group of disputed islands, Uotsuri island (top), Minamikojima (bottom) and Kitakojima, known as Senkaku in Japan and Diaoyu in China is seen in the East China Sea, in this photo taken by Kyodo September 2012.
Obama Says Disputed Islands within Scope of US-Japan Security Treaty

By Reuters

U.S. President Barack Obama has assured Japan that tiny islands in the East China Sea at the heart of a territorial row with China are covered by a bilateral security treaty that obligates America to come to Japan's defence. (9:24 pm)

MORE TOPICS: BARACK OBAMA, JAPAN, SOUTH KOREA

Nokia chief executive Stephen Elop (L) welcomes Microsoft chief executive Steve Ballmer with a handshake at a Nokia event in London in this February 11, 2011 file photograph.
Microsoft to Seal Nokia Deal, Will Nokia Phone be Renamed as Microsoft Mobile?

By IBTimes AU

Nokia has announced in a press release the company will wrap up its $7.9 billion deal with Microsoft on April 25. (7:41 pm)

MORE TOPICS: MICROSOFT, MANUFACTURING, NOKIA CORPORATION, SMARTPHONE, ANDROID

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