China’s economy aids global development

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The Chinese economy is contributing to global development, especially with developing nations as China lends and invests more than the World Bank.

Currently, China is the second largest economy in the world and has the greatest percentage of foreign exchange reserves.

Chinese exports have grown considerably and with a share of 9.6%, China is the biggest exporter, followed by Germany.

The “Made in China” tag is present all over the globe and records from the Export-Import Bank in China reveal the country has over US$3 trillion in reserves.

Growth has slowed to roughly 8.1% as a result of the global financial crisis especially in Europe, but China still remains favourable and distant from the danger zone.

The availability of cheap labour in various provinces in China has greatly influenced the manufacturing success of the country, which has attracted manufacturers such as Apple to this part of the world.

The Government is receiving a large amount of returns due to investing a lot in the European financial markets, which enables the country to continue bringing back its returns in the same financial markets.

China maintains a vital role in helping the Eurozone regain strength, and the country’s budget seems to be constantly expanding.

The BRICS (Brazil, Russia, India, China & South Africa) are generally the fastest growing economies in the world at present.

The service delivery from the BRICS is not as sufficient in comparison to the already developed nations that provide the largest amount of aid to less developed nations.

However, they have invested heavily in the developing nations by implementing their own infrastructure.

Consequently the BRICS have gained support from less developed countries at the UN, IMF & World Bank.

China has an edge over other countries in the world market as their policy of fixing the exchange rate of the Yuan makes exports cheaper.

Transfer Money to China

If you are looking to invest in China, think carefully about how you will be transferring money to China. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

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China’s economy aids global development

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