Enright, 2008)China is one country which has the record of possessing the largest population in the world. Over the years,China has flourished and maintained its dignity as compared to other civilizations with its ancient civilization and unique simplified traditions.
Previously,China went through a bad economic stage where its economy and corporate conditions were badly affected. But, with the advent of the renovation of the China Reforms in 1970s, the economy of China has regained with good reputation and standard. Within last 30 years,China has flourished on the map of the world as one of the most advanced and diversified countries present on the globe. The economy of China has encouragingly improved rapidly and miraculously with an average rate of 8% in the final Gross Domestic Product (GDP) per year of the country. In this way, the economy of China has improved to 10 times as compared to what it was in the past 30 years back. According to an estimated calculation, the GDP recorded in the year 2007 reached up to 3.42 trillion US dollars which is a remarkable progress for the people, companies, investing bodies and governing bodies involved. By coming to this point, China has become second top country after theUnited Stateswhich has the great Purchasing Power Parity GDP.
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