China's Economic Growth (WeiNing)

China has been developing their country rapidly in the recent years. It used to be one of the poorest countries i the world and it is now growing very quickly. China will continue to grow a develop their trading business, develop their infrastructure and many other projects as years pass. It will turn into a very prosperous country and one of the leading countries soon as well. Due to China's low coporate tax, which is 25%, they attract foreign investors to the country to do business. This allows China to be more developed with foreign investors. Also, China's low exchange rate will attract more tourists and foreigners to visit China. China's goods are mass produced and due to their cheap labour, the goods sold are thus cheaper in price as well.

However, the increase in income inequality in China will result in the country being richer but yet the people in China are becoming poorer and poorer. The rich gets richer, the poor gets poorer. In China itself, there will be more employment opportunities as more workers will be needed should more factories be built by foreign investors. But as more factories are being built, more pollution will be caused especially air pollution. One god example is the city of Beijing, the air pollution in Beijing is so bad that there's no one day with clear blue skies.

With China's rapid economic growth over the years, many countries start to trade with China, including Singapore. Our country should maintain on friendly terms with China so as continue trading with them. Without the trade from China, our country may not be able to survive on our own due to our lack of natural resources.