Comparison of Nations through GDP and GDP per capita Analysis

Comparison of China through GDP and GDP per capita Analysis

Introduction

China is witnessing strong wage increase for their labor in recent years. This is a result of decades of growth in the country. However, the high growth rates are now stabilizing towards moderate ranges. Given these facts, it is not hard to fathom that the heaviest populated country in the world has overseen, sharp GDP and GDP per capita rise in recent times.

The following article would present a discussion on specific conditions (e.g. demographics, resources, etc.) of China. These explanations would provide grounds to distinguish relationship and ranking as compared to other nations, with respect to Gross Domestic Product (GDP) and the GDP per capita of China.

Discussion

The configuration of the Chinese labor market depends heavily on the demographic dynamics, migration and more capital intensive production. China's official statistics are considered precarious. However, insights from the China Population and Labor Yearbook published by the Chinese Academy of Social Sciences provide grounds to distinguish the demographic dynamics of the country (Fang et.al, 2013).

In China, the fertility rate is falling. It now stands at 1.7 sons by woman. About 55% of households are in the scheme of only one child. In 2030, the population will stabilize to 1.440 billion inhabitants. The weight of the elderly will be larger compared to the smaller youth. Companies in the cities have always relied on huge avalanches of migrants from the countryside. To be legal, the migration must be authorized by the Government. However, there are more than 200 million illegal migrants, mostly young people from 16 to 35 years old, single and still accept work 29 days a month and with good wages lower than local residents. About 50% of urban jobs are occupied by these migrants (Fang et.al, ...