Sunday, September 21, 2014 2:06 PM 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

Mexico's Gustavo Ayon celebrates
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By IBTimes AU

NBA NEWS - For his excellent play in the international basketball scene, Gustavo Ayon has gotten the attention of the defending NBA champions San Antonio Spurs. (Sep 19)


Students Walk Out Of Samsung Electronics' Headquarters In Seoul
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By IBTimes AU

Samsung SM-A500’s existence has been confirmed with specs and images. (Sep 19)


Part of the building of Unit 61398, a secretive Chinese military unit, is seen in the outskirts of Shanghai Feb. 19.
Chinese Property Developer Flees To New Zealand After China Arrests Vice-Mayor For Corrupt Deals

By IBTimes AU

China crackdown on corruption is going places. (Sep 19)


Jaycee Chan In Happier Days /File photo/REUTERS/ Fred Prouser
Jackie Chan's Son Formally Arrested For Drug Abuse

By IBTimes AU

Jaycee Chan is officially arrested for his alleged drug abuse. (Sep 19)

Bulk of New Zealanders Prefer Legislation To Stop Foreign Ownership of Farm Land

By IBTimes AU

The political leadership has to harmonise the domestic sentiments with the needs of globalisation (Sep 19)

iOS 8
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By IBTimes AU

The race between Team Evad3rs and PanguTeam to first roll out the iOS 8 jailbreak update might be unintended but it looks like the Chinese devs are a step ahead in providing the upcoming iPhone 6 and iPad unlocking tool. (Sep 19)


Maria Sharapova of Russia hits a return during her women's singles tennis match against Angelique Kerber of Germany at the Wimbledon Tennis Championships, in London July 1, 2014.
Maria Sharapova Back On Court, Started Training As Soon As She Arrived In Wuhan

By IBTimes AU

Maria Sharapova has arrived in China for the inaugural Dongfeng Motor Wuhan Open. (Sep 19)


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Global Markets Overview – September 19, 2014

By IG Markets

The biggest market volatility events of 2014 are almost over. The FOMC was yesterday, Scotland voting for independence is today and Alibaba, with its mass market interest, is tonight. (Sep 19)


Chinese patrol ship Haixun 01 is pictured during a search for the missing Malaysia Airlines flight MH370, in the south Indian Ocean April 5, 2014, in this photo courtesy of China News Service. Haixun 01 detected a pulse signal in the south Indian Ocean on
Malaysia Airlines Appalled At Kiwi Authors’ Claim Of Pilot Suicide

By IBTimes AU

Malaysia Airlines had issued an angry statement against Kiwi authors of Goodnight Malaysia 370. (Sep 19)


Australian Defence Minister Johnston, Australian FM Bishop, U.S. Secretary of State Kerry and U.S. Secretary of Defense Hagel are Pictured at the End of Their Joint News Conference in Sydney
Australia Actively Rallying Support For International Coalition Against ISIS

By IBTimes AU

Australia has been vocal in expressing its support for the U.S.-led coalition to fight ISIS. Russia and China were encourages to back the coalition to prevent ISIS from spreading terror beyond the Middle East. (Sep 18)