Saturday, August 23, 2014 7:28 PM EST

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

Hong Kong Stock Exchange
Australian Stock Market Report – Afternoon August 22, 2014

By Comsec

The local share market spent the final session of the week consolidating on the improvements of the last 5 days. Friday's gain meant that the ASX 200 has risen by just under 1.5% this week. The status quo amongst the sectors largely remained the... (7:50 pm)

MORE TOPICS: TWITTER, FACEBOOK, QANTAS, RIO TINTO, INVESTMENT

Sony Corp's Logo Is Seen At The Headquarters In Tokyo
Upcoming Sony Xperia Z3 With Dual-SIM Support Gets Approved In China; Full Specifications Revealed; Amber-Coloured Xperia Z3 Tipped

By IBTimes AU

New Sony Xperia Z3 gets certified in China. Full and final specifications, launch date and colour options revealed. (Aug 22)

MORE TOPICS: SAMSUNG, FCC, SONY

Israel flag
Haifa Seeks 2nd Stock Exchange for Israel

By IBTimes AU

TheTel Aviv Stock Exchange (TASE) may soon have competition as Haifa, the third-largest city in Israel, wants to open a second bourse that focuses on technology-based stocks. (Aug 22)

MORE TOPICS: MICROSOFT, IBM, NYSE, TOKYO STOCK EXCHANGE, ISRAEL, JAPAN

Sony Corp's Logo Is Seen At The Headquarters In Tokyo
Sony Xperia Z1 Compact vs. Oppo N1 Mini – Specifications, Features And Price Showdown

By IBTimes AU

Here is a comparison of specifications, features and price pertaining to the Sony Xperia Z1 Compact and the Oppo N1 Mini. (Aug 22)

MORE TOPICS: SONY, IPHONE, IPAD, INDIA, SMARTPHONE, ANDROID

Tsunekazu Ishihara, President And Chief Executive Officer Of The Pokemon Company And Producer Of Pokemon, Introduces The New 'Pokemon Art Academy' Game During A News Conference At The 2014 Electronic Entertainment Expo, Known As E3, In Los Angeles
Before ‘Pokemon Omega Ruby and Alpha Sapphire’: Chinese Fans’ Petition For Language Support And Largest Pokemon Collection

By IBTimes AU

Before the “Pokemon Omega Ruby and Alpha Sapphire” debuts, here are some interesting developments among fans of the franchise in China and in the U.K., involving a petition for support in the videogame and the world’s largest Pokemon memorabilia collection. (Aug 22)

MORE TOPICS: NINTENDO, GOLD, JAPAN, SONY

McDonald's product is pictured in a restaurant in Washington, July 23, 2010.
Food Finger Condoms Turns A Huge Hit In Korea

By IBTimes AU (No Google news)

The innovative food finger condoms , which has become a nationwide hit in Korea would let you eat sticky food without messing your fingers (Aug 22)

MORE TOPICS: JAPAN

XBOX ONE
Xbox One News: Possible 24-Hour Free Games, 5M Approved Units In China And Continuing Resolution Issues

By IBTimes AU

The Xbox One may be testing out a new service that may allow for free play day in the future. Also, five million units have been approved for China once the Xbox One releases in September. (Aug 22)

MORE TOPICS: MICROSOFT, GOLD

An elderly woman walks at a temporary housing complex where evacuees from the Kawamata area are living in Kawamata town, Fukushima prefecture June 23, 2014. The triple meltdowns at the Fukushima Daiichi nuclear plant that followed the March 2011 earthquak
Global Markets Overview – August 22, 2014

By IG Markets

More record prints for the S&P as it's now within eight points of 2000, a psychological milestone. (Aug 22)

MORE TOPICS: GOLD, DOW JONES, FTSE, MANUFACTURING, TWITTER, FACEBOOK

Unemployment
Australian Stock Market Report – Morning August 22, 2014

By Comsec

In US economic data, weekly claims for unemployment insurance fell by 14,000 to 298,000, below forecasts for a result near300,000. (Aug 22)

MORE TOPICS: GOLD, FEDERAL RESERVE, UNEMPLOYMENT, DOW JONES, BANK OF AMERICA, FTSE

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New Zealand Accelerates Ban on Shark Finning

By IBTimes AU

Shark finning has been banned in New Zealand following calls of conservation groups to make the practice illegal. The new law will take effect in October 2015. (Aug 21)