Sunday, November 23, 2014 12:43 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

Australian Prime Minister Tony Abbott (C) talks to Chinese President Xi Jinping (R) before a meeting at the Great Hall of the People in Beijing, April 11, 2014. REUTERS/Parker Song/Pool
New Zealand Assured China-Australia Deal Will Not Affect Demand

By IBTimes AU

New Zealand has been assured by Chinese President Xi Jin Ping that China's deal with Australia will not affect export demand. (Nov 22)

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Travel Alert: Frequent Flyer Tie-Up Between Virgin Australia, South African Airways Enhanced

By IBTimes AU

Virgin Australia and South African Airways have expanded their frequent flyer tie-up programme. (Nov 22)

MORE TOPICS: AUSTRALIA, SOUTH AFRICA, QANTAS

Vast Corn Plantation
Crop Production Amplifies Carbon Dioxide Cycle

By IBTimes AU

Scientists explain how agricultural production affects CO2 levels in the Northern Hemisphere. (Nov 22)

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Actor Chin Han poses for photographers as he arrives for the premiere of the film The Dark Knight
New Zealand-China Film And TV Co Production Pact Signed

By IBTimes AU

New Zealand's agreement with China for TV and film co production will help film makers in both the countries. (Nov 21)

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Tablet Computers
Jolla Tablet With Sailfish OS Rivals The iPad Mini 3 and Nokia’s N1

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Jolla has officially released its tablet which boasts of impressive specs and features the latest Sailfish 2.0 open operating system. (Nov 21)

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NSA Director Adm. Michael Rogers listens at a Reuters CyberSecurity Summit in Washington, May 12, 2014.
How China Could 'Cripple' US Power Grid

By IBTimes AU (No Google news)

Senior official at the National Security Agency warns that China and some other nations can hit the US power and water grids offline. (Nov 21)

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Google, which has been the default search engine for Firefox since 2004, already bids goodbye to the 10-year long partnership. (Nov 21)

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Xiaomi Founder And CEO Lei Jun
Xiaomi To Launch Xiaomi Smartwatch, Company Seeks Suggestion From The Audience To Know Expected Features

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Xiaomi is hinting towards manufacturing a smartwatch in the future. However, it is asking its fans to suggest them the features they would like to see on the smartwatch. (Nov 21)

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Meizu MX4 Pro Officially Announced, Features 5.5-inch Display, Exynos 5433 Chipset And Secure Fingerprint Scanner

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Meizu has officially unveiled the Meizu MX4 Pro. It features Samsung Exynos 5433 processor and secure fingerprint sensor. (Nov 21)

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A gamer plays "Call of Duty: Advanced Warfare" on an Xbox One console during the Xbox Play Day 2014, before the Gamescom 2014 fair in Cologne August 12, 2014. The Gamescom convention, Europe's largest video games trade fair, is opened to th
Alleged 'Microsoft Lumia 1030' Front Panel Leaked With Capacitive Buttons; 'Xbox One' Owners To Get Free Goodies On Anniversary

By IBTimes AU

A leaked front panel shows a sleek device with capacitive navigation buttons and the device is reported to be Lumia 1030. Also, Xbox One owners will be treated to free goodies on its anniversary. (Nov 21)

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