This website uses cookies to ensure you have the best experience. Learn more

Year 11 Economic Analysis Of China And Australia, Including Economic Growth, Employment And Unemployment, Quality Of Life And Role Of Government

2267 words - 10 pages

Economic Growth.China.China is classed by the World Bank as a lower middle-income country. China's real GDP grew at a rate of 9.1% in 2003, up from 8.0% in 2002, meaning that even economic growth is increasing rapidly in China. China's GDP growth rate is even faster than the US, and has enjoyed some double-digit growth rate since it has opened to economic reform.This rapid growth had brought opportunities and challenges - both for China and for the rest of the world.- PPP GDP - $6.5 trillion US, second in the world- PPP GDP/capita - $5 000 US-GDP - $1.46 trillion US-GDP growth - 9.4%-GDP/capita - $1 100 US- GNI - $1.4 trillion US- GNI/capita - $1 010 US- Exchange rate - 8.28 RMB for 1 US, ...view middle of the document...

Economic growth for Australia however has slowed down over the last two quarters, with only 0.2% in each. If this continues for the rest of the year, then the annual growth rate for 2005 would only be 0.8%.However, China is still going strong with its growth. It may even be accelerating.What has changed is the extent to which all of Australia's economic fortunes are now linked with those of China. Its sheer size and its dynamism makes it increasingly important for global economic growth. With Japan's economy largely stagnant for much of the 1990s, China played a crucial part in sustaining and helping to fuel Asian economic growth. With European growth still lacklustre, the opportunities offered by Chinese growth are increasingly important for the world outside Asia. It is in all of Australia's interests that the Chinese economic miracle is sustained.Employment and UnemploymentChinaGDP composition/sector - Agriculture - 14.8%Industry and construction - 52.9%Services - 32.3%Unemployment Rate - 4.1% or 80 million peopleFrom 1990 to 2003, the employed population increased by 96.83 million, an average increase of 7.45 million per annum. In rural areas the unemployment rate is higher than in urban areas. The increase can be blamed on rapid economic growth as well as other factors that have come to affect Asia, such as SARS.Agriculture: ;rice, wheat, potatoes, sorghum, peanuts, tea, cottonIndustries: textiles and apparel, iron and steel, coal, machine building, armamentsImproving the public employment service system, and fostering and developing the labor market-- Establishing a market-oriented employment mechanism.-- Developing and improving the public employment service system.-- Improving the unemployment insurance system.AustraliaAlthough Australia's unemployment rate is only 5.1%, which is its lowest for 24 years, Australia is still only 55th in the world in unemployment.Jan 2005 StatusEmployed persons ('000) 9,851.6 IUnemployed persons ('000) 526.4 DUnemployment rate (%) 5.1 DParticipation rate (%) 63.9 ISeasonally AdjustedEmployed persons ('000) 9,868.2 IUnemployed persons ('000) 533.3 DUnemployment rate (%) 5.1 DParticipation rate (%) 64.1 IAlso, over the past few years, more and more people are starting to work part-time instead of full time.Also, in Australia the labour force participation rate for men was 83.6% whilst it was 67.8% for females, however, this is comparatively high for women as they are now returning to the work force. Stats show that 46% of women work part time mainly due to children.Employment from sectors - Primary: 5.6%Secondary: 11.9%Tertiary: 82.5%GDP composition/sector - Agriculture: 3.5%Industry: 26.3Services: 70.2%Quality of LifeChinaLife expectancy - 70.9Adult literacy rate - 90.9HDI - 0.745, ranked 94China's ranking of Human Development Index (HDI) subsequently rises from 104 to 94 in 177 countries in the world.According to the survey, 80.1 per cent of Chinese people feel positive about China's overall quality of...

Other Essays On Year 11 Economic Analysis Of China And Australia, Including Economic Growth, Employment And Unemployment, Quality Of Life And Role Of Government

Role Of Reserve Bank Of Australia And Interest Rates

2010 words - 9 pages on housing.Monetary Policy under thew Howard government has also assumed the key role of containing wages growth. The government is also reliant upon Monetary Policy to control wage inflation.Monetary policy was more effective as an instrument of economic management in the 1990's than in the 1970's and 1980's, some improvements include:o Lower inflation outcomes - from 8.3% to 2.3%o Higher growth and living standardso Fall in unemployment to 5.0

Economic And Monetary Union Of Europe. Includes Personal Comment

972 words - 4 pages The main reason for creating a European Market was the growing international competitiveness. In the mid of the eighties the European countries recognized that in the long run the national economies alone won't be able to compete against countries like the US, Japan and the new industrial centers in East Asia. The biggest advantage of the European integration is the unique chance of causing significant economic growth in the member countries by

Political, Psychological, Economic And Social Aftermath Of The Black Death

2542 words - 11 pages more productive culture was needed to prevent famine. Europe started produced a monoculture of wheat because the wheat had the highest yields per seed. This change leaded to overcultivation and soil exhaustion then outstripped food production so, famine was eminent. Two important time periods played a crucial role in the breakdown of Europe's agriculture and these time periods affected the entire European continent. Population suffered

Employment And The Law In NSW, Australia

8141 words - 33 pages Motivation and Leadership Skills 6.Quality Orientation and Excellent Product Presentation 7. High Standard of Personal Presentation 8. Analysis/Problem Assessment Skills for Customer Complaints 9. Detail and Task/Achievement Orientation Key Result Areas Major Activities Performance Measures Management of the day to day operation of the practice. Management of the routine daily tasks and staff within the practice including the regular upgrading

Analysis Of The Bicycle And Its Role In Society

398 words - 2 pages Not only are Parents responsible for providing food and shelter for their Children, but they should also help them to develop their mental and physical condition. A Bicycle, a vehicle having two wheels one behind the other, influences a child's physical, intellectual and social development. It also can improve the quality of life. Riding a bicycle will provide children with health and other benefits. A bicycle can save them money in gas and also

Measuring Service Quality And What Is Service Quality. Points About Service Quality Gaps, Importnace Of Service Quality Management And Recommendations

616 words - 3 pages Detailed Outline: Measuring Service Quality1. IntroductionDefining quality in a service environment. Expectation and experience of customer set the perceived quality. The importance of service prospective in a business defined.Customer driven market where competitive advantage achieved through the maximization of service quality that fulfil customer's needs and wants.Management of service quality and relationships of stakeholders. Thus, perform

Government And Political System Of Canada

1350 words - 6 pages decades following its appearance on the political scene, the New Democratic party was able to develop a normal share of 18% to 20% of the popular vote and to win on average 10% to 12% of the seats in the House of Commons.Party Ideologies. The two dominant parties share an ideological commitment to a system of capitalism in which government plays an active role. When in office, both have used state action to promote national development, to reduce

Sweeden Vs. Finland This Essay Shows The Differences And The Similaritys Of Sweeden And Finland It Tells How They Earn And Spend Money And All Economic Characteristics

1031 words - 5 pages approximately 8.8% of their GNP on health care costs.Finland and Sweden both have a free-market economy. This is a good thing because this means that the government can't put prices on someone else's products. This means people get to put their own prices on their own products. Finland has a very high unemployment rate at ten percent and Sweden on the other hand has a lower one at five point five percent.Finland and Sweden agriculturally produce different

Business and Government Intervention of Business

259 words - 2 pages recently indicted including Bernie Ebbers who got 25 years for his role in the collapse of WorldCom. Adelphia founder and ex-CEO John Rigas received a sentence of 15 years.The government has been intervening in business a lot recently. Between the WorldCom case, Enron and recently Tyco, the SEC has been working overtime. Without the government's intervention, these scams could still be going on, and these corporate executives could have gotten away with more money.

To what extent did economic, political, and social change effect the lives of colonists after the American Revolution?

547 words - 3 pages government. The Revolution birthed many advances, including the separation of church and state, concepts of individual rights and equalities, the delegation of power through written constitutions, and the notion that the government should be by consent of the people. Some say, after the Revolution, authority and liberty did not flow from the political party of the society but from the configuration of its personal relationships, affecting social

An analysis and description of the life of Bill Gates and the beginnings of Microsoft Corporation

434 words - 2 pages , Gates and Melinda's daughter, was born on April 26th 1994.Bill Gates has transformed the computing world in the short twenty-five year interval since he first learned BASIC on the GE machine. The development of MS-DOS, Windows, and the introduction of the mouse have brought computing down to a personal level. Gates' goal to have a computer in every household is being realized. His dreams have created a very competitive software and hardware computer industry. Society has been transformed by a man with a vision.

Similar Papers

Discuss The Role Of Media Studies In Making Sense Of The Political, Economic, And Cultural Meaning Of Everyday Life

1250 words - 5 pages of politics controls a lot of what see in the media, and often it is difficult to determine what political content may have been manipulated in order to influence the audience's views.Political economy "one of the strongest and longest traditions in media studies." (Cunningham and Turner, The Media & Communications in Australia 2002)The economic meaning of everyday life relates to the production, development, and management of material wealth

Economic Reform/Policy Mix, Covers Macro And Micro Economic Reforms In Australia

2659 words - 11 pages billion higher in 2013‑14.SpendingThe Government has made $18.3 billion in savings to expenses and net capital investment in this Budget. Savings have been achieved through reductions to some welfare expenses including through changes to Family Tax Benefits payments. Other savings will be delivered through the deferral of Australia's official development assistance (ODA) growth target by one year ($1.9 billion over four years), and from the

Analysis Of Increased Computerization And Increased Economic Productivity

2426 words - 10 pages research proposal has focused on an analysis of the role increased use of computers has played in increasing economic productivity. Computer have impacted the economy very significant. Much of the current knowledge about the impact of information technologies on productivity and growth is based on a growth theory that explains how advancements in technology will lead to economic growth. Economists describe the impacts on productivity in studies

Analyze The Degree To Which The Articles Of Confederation Provided An Effective Form Of Government With Respect To Any Two Of The Following: Foreign Relations Economic Conditions Western Lands

759 words - 4 pages government all the power in fear of tyranny like in Britain. In the end, the Articles of Confederation proved to be both inadequate in economic conditions and foreign relations.Under the Articles of Confederation the national government was not allowed to raise revenue to finance the war and other essential needs that a country need money for. The state governments had control of taxing the American people but many were unwilling to do so. So to