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Questions and Answers
The tertiary industry has seen a decrease in its contribution to GDP from 1978 to 2019.
The tertiary industry has seen a decrease in its contribution to GDP from 1978 to 2019.
False (B)
In 2019, the secondary industry accounted for a larger percentage of GDP than the tertiary industry.
In 2019, the secondary industry accounted for a larger percentage of GDP than the tertiary industry.
False (B)
The primary industry represented a smaller portion of China's economy in 2019 compared to 1978.
The primary industry represented a smaller portion of China's economy in 2019 compared to 1978.
True (A)
The data indicates that the secondary industry has been the largest contributor to China's GDP growth in both 1978 and 2019.
The data indicates that the secondary industry has been the largest contributor to China's GDP growth in both 1978 and 2019.
Source 3 shows that the primary industry saw a dramatic decline from 1978 to 2019.
Source 3 shows that the primary industry saw a dramatic decline from 1978 to 2019.
A country is considered developed if its per capita GDP is over US$10,000.
A country is considered developed if its per capita GDP is over US$10,000.
In 2008, China's per capita GDP was higher than that of Germany.
In 2008, China's per capita GDP was higher than that of Germany.
As of 2019, China's per capita GDP was lower than both the US and Japan.
As of 2019, China's per capita GDP was lower than both the US and Japan.
The World Bank was established after World War II to provide support primarily to developed countries.
The World Bank was established after World War II to provide support primarily to developed countries.
China's per capita GDP was approximately 13 times higher than that of Germany in 2008.
China's per capita GDP was approximately 13 times higher than that of Germany in 2008.
The Gross Domestic Product (GDP) includes economic activities conducted outside the territory of a country.
The Gross Domestic Product (GDP) includes economic activities conducted outside the territory of a country.
The preliminary verification of China's GDP is conducted in the second quarter of the year following the data collection.
The preliminary verification of China's GDP is conducted in the second quarter of the year following the data collection.
Per capita GDP is calculated by multiplying the total GDP by the population.
Per capita GDP is calculated by multiplying the total GDP by the population.
The economic structure of a country does not influence its classification as developing or developed.
The economic structure of a country does not influence its classification as developing or developed.
The GDP of China was over 990 billion RMB in 2019.
The GDP of China was over 990 billion RMB in 2019.
China's GDP has consistently increased every five years since 1978.
China's GDP has consistently increased every five years since 1978.
Economic development of a country can only be evaluated using gross national income.
Economic development of a country can only be evaluated using gross national income.
The GDP of China in 1994 was less than 50 trillion RMB.
The GDP of China in 1994 was less than 50 trillion RMB.
The national online retail market is expected to remain stagnant in the second half of the year.
The national online retail market is expected to remain stagnant in the second half of the year.
From 2003 to 2006, the contribution of consumption to GDP in China reached a record low of 50%.
From 2003 to 2006, the contribution of consumption to GDP in China reached a record low of 50%.
Investment in China's economy has been decreasing in recent years.
Investment in China's economy has been decreasing in recent years.
Local governments in China often understand the industries they invest in very well.
Local governments in China often understand the industries they invest in very well.
Chinese manufacturers earn a significant share of the profits from products sold in the US, like BOSS shirts.
Chinese manufacturers earn a significant share of the profits from products sold in the US, like BOSS shirts.
Excessive capacity exists in more than ten industries in China, including textiles and electric power.
Excessive capacity exists in more than ten industries in China, including textiles and electric power.
The mode of economic development in China is expected to be sustainable in the long term.
The mode of economic development in China is expected to be sustainable in the long term.
The three driving forces of China's economic development are consumption, investment, and export.
The three driving forces of China's economic development are consumption, investment, and export.
China's total domestic consumption accounted for 38% of GDP in 2005.
China's total domestic consumption accounted for 38% of GDP in 2005.
The proportion of domestic consumption in GDP reached its highest level at 35% in 2007.
The proportion of domestic consumption in GDP reached its highest level at 35% in 2007.
Export growth has been a minor factor in China's GDP growth.
Export growth has been a minor factor in China's GDP growth.
The number of online shopping users in China increased by 100 million from 2018 to this year.
The number of online shopping users in China increased by 100 million from 2018 to this year.
The Central Government is restricting digital transformation in retail companies.
The Central Government is restricting digital transformation in retail companies.
National online retail sales in the first half of this year reached RMB5.15 trillion.
National online retail sales in the first half of this year reached RMB5.15 trillion.
Sales of tangible goods in e-commerce rose by 14.3% despite market challenges.
Sales of tangible goods in e-commerce rose by 14.3% despite market challenges.
The novel coronavirus epidemic had no impact on domestic consumption in China.
The novel coronavirus epidemic had no impact on domestic consumption in China.
China's economic growth is predicted to maintain a rate of $8 ext{%}$ to $10 ext{%}$ in the future.
China's economic growth is predicted to maintain a rate of $8 ext{%}$ to $10 ext{%}$ in the future.
The Collapse Theory suggests that China's economy is stable and without significant problems.
The Collapse Theory suggests that China's economy is stable and without significant problems.
Threat Theory posits that China's growing comprehensive national strength could threaten other countries' economic development.
Threat Theory posits that China's growing comprehensive national strength could threaten other countries' economic development.
China's military expenses show single-digit growth each year.
China's military expenses show single-digit growth each year.
One of the concerns regarding China's rise is the unresolved Taiwan issue, which could trigger conflict.
One of the concerns regarding China's rise is the unresolved Taiwan issue, which could trigger conflict.
The increased competition from China's economic growth is believed to possibly lead to military conflicts in the Asia-Pacific region.
The increased competition from China's economic growth is believed to possibly lead to military conflicts in the Asia-Pacific region.
According to the theories, every viewpoint aligns in agreement about China's future economic development.
According to the theories, every viewpoint aligns in agreement about China's future economic development.
The military aspect of the Threat Theory emphasizes China's military modernization and expansion.
The military aspect of the Threat Theory emphasizes China's military modernization and expansion.
Flashcards
GDP
GDP
The total value of goods and services produced within a country's borders in a year.
Per Capita GDP
Per Capita GDP
A country's total GDP divided by its population. Shows the average wealth per person.
How is China's GDP calculated?
How is China's GDP calculated?
The National Bureau of Statistics (NBS) calculates China's GDP based on different industrial sectors, income/expenses, and data sources.
What does GDP tell us about a country?
What does GDP tell us about a country?
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Economic Structure
Economic Structure
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Why is Economic Structure important?
Why is Economic Structure important?
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Why do we look at both GDP and Per Capita GDP?
Why do we look at both GDP and Per Capita GDP?
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What can Economic Structure reveal?
What can Economic Structure reveal?
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Production Structure
Production Structure
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Developed Country
Developed Country
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World Bank
World Bank
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Tertiary Industry Growth
Tertiary Industry Growth
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China's Economic Development
China's Economic Development
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Dominant Industries in 1990
Dominant Industries in 1990
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Dominant Industries in 2019
Dominant Industries in 2019
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Industry Trend
Industry Trend
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Contactless Economy
Contactless Economy
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China's Economic Drivers
China's Economic Drivers
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Investment-Driven Growth
Investment-Driven Growth
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Excessive Capacity
Excessive Capacity
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Low Value-Added Products
Low Value-Added Products
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Chinese Dependence on Exports
Chinese Dependence on Exports
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Blind Investment
Blind Investment
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Government Policy Impact on Economic Phenomenon
Government Policy Impact on Economic Phenomenon
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China's Economic Imbalance
China's Economic Imbalance
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Domestic Consumption in China (2005)
Domestic Consumption in China (2005)
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Domestic Consumption in China (2007)
Domestic Consumption in China (2007)
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China's Economic Growth Driver
China's Economic Growth Driver
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Central Government's Role in Spending
Central Government's Role in Spending
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Online Shopping in China
Online Shopping in China
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Online Retail Sales in China
Online Retail Sales in China
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Tangible Goods Sales in China
Tangible Goods Sales in China
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World's Factory
World's Factory
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Advantages of 'World's Factory' Title
Advantages of 'World's Factory' Title
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Disadvantages of 'World's Factory' Title
Disadvantages of 'World's Factory' Title
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Threat Theory
Threat Theory
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Collapse Theory
Collapse Theory
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Military Aspect of Threat Theory
Military Aspect of Threat Theory
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Economic Aspect of Threat Theory
Economic Aspect of Threat Theory
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Political Aspect of Threat Theory
Political Aspect of Threat Theory
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Study Notes
Economic Development of China
- China's economic development has seen significant changes over the past 70 years.
- From 1949 to 1978, political campaigns negatively impacted economic growth, leading to periods of negative GDP growth (1960-1962, 1967-1968, 1976).
- In 1978, the Reform and Opening-up policy was introduced, shifting focus from class struggle to economic development.
- This led to rapid economic growth, with annual average GDP growth of 12.3% in the following 40 years.
- China's GDP increased substantially from RMB367.8 billion in 1978 to RMB412,119 billion in 2010.
- China replaced Japan to become the world's second-largest economy in 2010.
Economic Indicators
- Gross Domestic Product (GDP): The total market value of goods and services produced in a country. Reflects the overall economic performance.
- Per capita GDP: Total GDP divided by the population. A better indicator of average economic performance per person.
- Economic Structure: Reflects the proportion of different sectors (agriculture, industry, services), and is essential in assessing a country's level of development.
Comparison with Other Developed Countries
- China's GDP has rapidly grown since 1978, becoming the world's second-largest economy.
- Despite this rapid growth, China's per capita GDP remains significantly lower than that of developed nations (e.g., the US, Japan).
- Factors like population size contribute to the difference in per capita figures.
Four Economic Regions of China
- Eastern Region: High population density, significant economic activity, large manufacturing industries.
- Central Region: Significant manufacturing but a slower pace of development compared to the Eastern region.
- Western Region: Lower population density, slower development relative to other regions.
- Northeastern Region: High population density and industrial history (heavy industry).
Human Development Index (HDI)
- The United Nations uses HDI to assess human development across countries.
- It considers life expectancy, education levels, and per capita income.
- China has seen significant improvements in HDI ranking but still lags behind developed nations given China's population.
Industrial Structure
- Primary Industry: Agriculture, forestry, fishing.
- Secondary Industry: Manufacturing, construction.
- Tertiary Industry: Services, retail, finance.
- China's industrial structure shifted from primary to secondary to tertiary as economic progress occurred.
- The proportion of primary industries decreased while that of secondary and tertiary industries grew.
- A shift toward the tertiary industry signifies a move to a more sophisticated economy.
Can China Become a Developed Country?
- China's rapid GDP growth, though impressive, doesn't equate to developed country status.
- Factors like per capita GDP, economic structure, industrial development, and societal factors play vital roles, and need to improve to reach developed country standards.
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Description
This quiz explores the significant changes in China's economic development over the past 70 years, detailing the impact of political campaigns and the reform policies introduced in 1978. It highlights China's rapid GDP growth, significant milestones, and economic indicators that portray its extensive transformation into the world's second-largest economy.
