Wrting assignment Example | Topics and Well Written Essays - 750 words

Wrting - Assignment ExampleAs per the chinaware Daily report, for the same period, the nominal GDP was $1.87 trillion and PPP GDP was $5.07 trillion for India, a nonher(prenominal) emerging economic power from Asia (Top 10 countries..). As per the report of Institute for Economic Competitiveness, the worlds largest rescue United States posted a nominal GDP of $16.8 trillion in 2013, but the solid grounds GDP growth was only 2.3% for the first quarter of 2014. Official government info also indicate that the Chinese economys GDP per capita (nominal $6,747 and PPP $9,844) for 2013 assisted the country to strengthen its economic position in the global economy (China GDP..).China is a communist country, and hence it follows the communist principle of equal distribution of wealth and money among the people. As a result, income inequality is not a big problem in China as compared to capitalist countries like the United States and United Kingdom. However, some recent reports indicate tha t income inequality is crook out to be a growing concern in the current Chinese market economy despite the countrys status as a communist economic system (Lecture notes, Education). The Asian Development Bank Institute indicates that implementation of reform and open door policies in China in 1978 significantly contributed to the emergence of income inequality issues in the country. The Economist reported that the Chinas official Gini coefficient was 0.474 as of 2012, but many economists argue that the countrys real inequality is far greater (Inequality. Gini out of the bottle).China, officially Peoples Republic of China, is a communist country or single-party state governed by the communistic Party of China. Key positions in the state structure and military are occupied by the members of Communist Party. The Chinese Communist Party is controlled