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.China consists of five sovereign sectors, four of them being Chongqing, Shanghai, Tianjin, and Beijing.
China transpired in the fertile basin of the Yellow River as one of the earliest civilizations in the world.During the early times, China was under the rule of dynasties.Later; the ROC exterminated the dynasty tradition when it took over the country in the year 1949.As the economic reforms were introduced to China in 1978, its economy has grown at a swift rate as compared to most of the other countries in the world.In 2016, it was ranked first for having the largest economy in reference to the purchasing power parity and the second position in reference to nominal GDP.In reference to trade, China makes the most exports in the world, and takes second place for making the most imports.
As China has been long known for its populous army; its atomic armaments also stand out.This makes its defense budget to be exceedingly high; making it the second largest.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.
Since 2001, China has been a member of several world based organizations.Free trade areas have been developed as a result of China’s significant influence in the areas of the Pacific and Asia.In the year 2000, the United States Congress agreed to the standard trade requests from China.This allowed the Chinese exports to get into the United States at similarly low rates as majority of other countries.There was a time when a significant group of politicians in the United States of America claimed that the Chinese Yuan was being undervalued, thus receiving unfair trade benefits.
The trading relationship developed between the United States of America and the Peoples Republic of China have profoundly contributed to the excellence and growth of each country.The collaboration of China with a number of African nations is also making an impact to the country’s economic state.China is getting its undertakings right the trading sector as it is working on increasing and developing its connections with great South American countries.