Friday, October 31, 2014 12:47 AM EST


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

Manny Pacquiao (L) from the Philippines and Chris Algieri of the U.S. pose during a news conference at Venetian Macao
Manny Pacquiao Has Got Chris Algieri Fight All Figured Out

By IBTimes AU

Manny Pacquiao isn't worried at all about his fight with Chris Algieri because he already has a game plan to beat the undefeated New Yorker. (5:15 pm)

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
World Bank Asks Slowing China To Abandon Fancy Growth Rates And Focus More On Reforms

By IBTimes AU

Any over heated economy will pause before slow down sets in. (4:43 pm)


A Samsung Galaxy Alpha Smartphone
Samsung Galaxy A Series Smartphones May Arrive In November: Rumoured To Rival Xiaomi Phones With Cheap Price Tag

By IBTimes AU

Rumours have it that Samsung will be aiming to release the Galaxy A series handsets in China in November to compete with Xiaomi. (2:02 pm)


A customer purchases the newly released iPhone 6 in a mobile phone shop in Moscow September 26, 2014. Official sales of Apple's iPhone 6 and iPhone 6 Plus started at midnight on Friday across major cities in Russia, according to local media.
Samsung Galaxy, HTC One and Sony Xperia Phone Problems Against Apple iPhone 6 Success

By IBTimes AU

Apple continues to draw success from its iPhone 6 series challenging the position of major Android players like the HTC One, Sony Xperia and the Samsung Galaxy. The Korean tech giant appears to be hit the most as it struggles not only against Apple but also its Android counterparts. (1:24 am)


The headquarters of Vivo is seen in Sao Paulo June 30, 2010.
Vivo Rumoured To Be Building World’s Thinnest Smartphone With 3.8 MM Thickness

By IBTimes AU

Vivo is reportedly building a smartphone with 3.8 mm. It aims to bag the world’s thinness smartphone title from Gionee Elite S5.1 which has a thickness of 5.1 mm. (Oct 29)


Chinese Teen Offers Sex To Men In Every Place She Travels To

By IBTimes AU

A Chinese girl has sex with a man in every place she travels to. (Oct 29)


Xiaomi Founder And CEO Lei Jun
Xiaomi Becomes World’s Third Largest Smartphone Manufacturer By Dethroning Huawei

By IBTimes AU

A recent survey conducted by Korean market research firm HIS iSuppli reveals that Xiaomi is the third largest handset manufacturer in the world. (Oct 29)


The Apple logo Is Pictured Inside The Newly Opened Omotesando Apple Store
Xiaomi VP Hugo Barra Says ‘Apple iPhone 6 Is The Most Beautiful Smartphone Ever Built’

By IBTimes AU

Xiaomi's Hugo Barra praised Apple iPhone 6 and iOS in WSJD conference. (Oct 29)


n office worker walks past an Australian Securities Exchange (ASX) window showing the main losses for the day in central Sydney July 23, 2012. Australian shares slumped 1.7 percent on Monday, the biggest one-day fall in seven weeks, as investors fled from
Australian Stock Market Report – Afternoon October 28, 2014

By Comsec

Australian shares recovered this afternoon to make up for most of the earlier losses. The ASX 200 Index fell by 0.1 per cent following a 0.8 per cent improvement on Monday. (Oct 28)


Boxer Manny Pacquiao (C) of the Philippines poses for a selfie with a fan during his tour in Hong Kong October 26, 2014. Pacquiao is on tour ahead of defending his WBO World Welterweight title on November 23 against Chris Algieri of the U.S. at the Veneti
Manny Pacquiao Still Hopes That The Fight With Floyd Mayweather Will Happen

By IBTimes AU

Manny Pacquiao is keeping his fingers crossed that the mega fight between him and Floyd Mayweather will happen in 2015. (Oct 28)