China is one the world's foremost economic powers.
With the second largest population in the world (1.4 billion, as of 2022), China is both a huge market and a massive source of labour and production.
The Chinese economy produces almost one quarter of the world's wealth 鈥 GDP US $14.7 trillion (World Bank, 2021). However, China's large population ensured that per capita income in 2021 was only $10,500 (World Bank). This is considerably lower than many other countries in the world.
China is the largest trading nation in the world. In 2021, it was the largest exporter ($2.7 trillion) and second largest importer of goods ($2.35 trillion).鈥疧ver 40 per cent of Chinese manufactured goods are sold overseas.
In recent years, China has developed new multi-billion dollar trade deals significantly increasing its influence in parts of South America and Africa. Chinese banks and investment companies have also invested heavily buying up businesses from across the world.