Chinese Economy
By the numbers, China is the second largest economy by nominal terms. Meaning by shear amount of money within their economy, China holds the second largest amount in the world. They are second only to the United States. They hold this ranking because China is widely regarded as the global hub for manufacturing. This means that many countries depend on China to produce much of the materials they need for various projects.
This manufacturing based economy has benefited China in many different ways. One of those ways includes the low unemployment rate of China. With so many jobs needed to run the manufacturing economy, this helps keep the percentage of the population living below to the poverty line low. The number itself lays around six percent. With so many people making that much money it become a little clearer as to why the countries income inequality rate is so low. |