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A Study on Agricultural Development in China and its Comparison with India and Pakistan

Rehman A, Jingdong L, Iqbal M. S, Hussain I

Abstract


The main objective of this paper is to determine the agricultural development in china and its comparison with India and Pakistan during the period 2013, 2014 and 2015. In 1978 China introduce the economic reforms and become world’s manufacturing hub, where the secondary sector represented the largest share of GDP. In recent years, China’s modernization thrusted the tertiary sector and, in 2013, it became the major category of Gross Domestic Product (GDP) with a share of 46.1%, while the secondary sector still accounted for a sizeable 45.0% of the country’s total output. For the meantime, the primary sector’s weight in GDP has shrunk dramatically since the country opened to the world. China exited the financial crisis in good shape, with GDP growing above 10%, little inflation and a sound fiscal position. However, the policies implemented during the crisis to foster economic growth exacerbated the country’s macroeconomic imbalances. Particularly, the incentive program strengthened investment, while household’s consumption remained repressed. In 2013 Gross Domestic Product (Purchasing Power Parity) of China was 17.02 trillion USD; it was 18.27 trillion USD in 2014 and increased to 19.51 trillion USD in 2015. The real GDP growth rate of China in 2013 was 7.7 %, it decline to 7.3 % in 2014 and was 6.8 % in 2015. In 2013 GDP-Per Capita of China was 12400 USD; it was 13400 USD in 2014 and increased with the ratio of 14300 USD. Similarly Gross National Savings % of GDP of China in 2013 was 48.20 %, 48.50% in 2014 and decreased to 47.

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