Answer to Question #79984 in Finance for Justin Jian Hui Lam

Question

briefly analyse the economy of China; forecasting or predicting to the fullest
extent possible, the significance and impact of a range of critical issues on hair care industry.

Answer 1

The socialist market economy of the People's Republic of China is the world's second largest economy by nominal GDP and the world's largest economy by purchasing power parity. Due to historical and political facts of China's developing economy, China's public sector accounts for a bigger share of the national economy than the burgeoning private sector. According to the IMF, on a per capita income basis China ranked 71th largest by GDP (nominal) and 78th by GDP (PPP) per capita in 2016. The country has an estimated $23 trillion worth of natural resources, 90% of which are coal and rare earth metals.
Source:
https://en.m.wikipedia.org/wiki/Economy_of_China