HOW CHINA IS BECOMING RICH

image credit -pixabay


 IF WE SEE TOYS,ELECTRONICS ,MEDICINES MAJORITY OF THE THINGS IS MADE IN CHINA

FOR CHINA  80% of toys share ,AND 75% smartphone share are from india

IN 2020 CHINA has  2.6 trillon$ ,export business

 

Major reason of development

Majority of any sector is controlled by its government

They allow new companies to settle down in there country,by giving them offers like

tax free business for sevral years,

more infrastructure facality

stable power and rules etc

 

CHINA GDP stands at 15600.00 USD Billion where retail industry contribute around 1.8 trillion$ to gdp

image source - pixabay /image by-jarmoluk 



on a another note CHINA is the home to one of the largest shopping home in the world ,that is why 60% of LUXURY goods,50% APPLE are from CHINA  that is why CHINA has 626 billionares


even in trust context china hold the great postion,that is why according to 2017 survey 83% of Indians use china products,AND has FDI of 153.71 billion (2020) US even owns 1.1trillion from china in 2021

 


WELL not everything is on the bright side for china even though HUMAN RESOURCE are asset here ,but  workers are forced to work 40-44hr a week,

even products which are manufactured here are produced by those comapanies which about to shut down,so the manufactureing cost  are less in number

conculsion

on such scenario business should be not be handled monopoly it should be diversified