About China's Macro economics Essay Example | Topics and Well Written Essays - 750 words

About China's Macro economics - Essay Example As of 2011, industry contributed 46.6 percent to total GDP, while services contributed 43.3 percent to GDP. The general economy grew by 92 percent by some estimates in 2011, and this growth can be construed as being broad-based and generally applicable to the economic centers. The key industries in the economic centers are the following (Central Intelligence Agency): mining and ore processing, iron, steel, aluminum, and other metals, coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizers; consumer products, including footwear, toys, and electronics; food processing; transportation equipment, including automobiles, rail cars and locomotives, ships, and aircraft; telecommunications equipment, commercial space launch vehicles, satellites (Central Intelligence Agency). The political capital of China is Beijing. Due to the country’s socialist system of government, where economic planning is centralized, Beijing can be construed as being the nerve center of the control of economic activities in the countries. Beijing’s influence on the national economy is therefore very vast and very key to understanding how the economy fares and how it will fare moving forward (Central Intelligence Agency). The western region of China is deemed as having historically developed at a lesser pace compared to the East, where the development is disproportionately located. A description of the western region is as follows (China Internet Information Center): The western region includes nine provinces and autonomous regions i.e.,Gansu, Guizhou, Ningxia, Qinghai, Shaanxi, Sichuan, Tibet, Xinjiang and Yunnan, in addition to Chongqing Municipality, and covers two thirds of the nation’s territory, with a population making up 22.8 percent of the nation’s total. Western China is rich in mineral,