China’s economy: a complex motor for global change.
Forty years ago, China opened its economy to the world, and also stepped out into it, creating extraordinary change both inside China, and beyond it. From being an inward economy that relied heavily on agriculture, to becoming a major investor and job creator at home and abroad, Chinas’ massive shift has taken the country – and its resources – from local to global.
In the U.S., whether it’s through investments in the car industry, where China is helping Detroit regain its economic footing; or in Silicon Valley, where dozens of Chinese companies have set up futuristic labs for automobile research, China is making its mark, forging partnerships and advancing technology.
But not all advancement has been achieved without a price.
With U.S. President Donald Trump's trade policy reform making headlines, Chinese industry has found itself at the crosshairs of politics – and in front of rising protectionist hurdles. Will a changing tide in American politics affect China’s partnerships in the U.S.?
From Local to Global takes a look at both sides of the U.S.-China trade relationship, and explores the leverage shared by both countries, whose trade dependencies on one another have long been established. It explores the teetering equilibrium of a changing U.S., a changing China, and a world whose commerce is interconnected. It also introduces us to President Xi’s goals of fanning China’s trade corridors throughout much of the globe through the Belt and Road Initiative, a move that will undoubtedly shift the levers of influence, affect global commerce and change what it means for people – and power – to go from local to global.
CHINA: WORLD BANK OVERVIEW
China has had a remarkable period of rapid growth, shifting from a centrally planned to a market based economy. Today, China is an upper middle-income country that has complex development needs, and where the World Bank continues to play an important development role.
CHINA BY THE NUMBERS: NATIONAL BUREAU OF STATISTICS OF CHINA
As an agency directly under the State Council, the National Bureau of Statistics is in charge of statistics and economic accounting in China. Click here to access monthly, quarterly, annual and census data from China.