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China’s 14th Five Year Plan

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China’s 14th Five Year Plan

The People’s Republic of China wields enormous influence in the arena of international trade and finance. This Asian giant has become the world’s largest manufacturing economy ($3.8 trillion), the biggest exporter ($2.6 trillion), the world’s second-largest importer ($2.08 trillion), surpassed the gross domestic product (on the basis of Purchasing Power Parity) of the United States in 2017 and is the world’s second-largest economy by nominal GDP. It has the world’s largest foreign exchange reserves ($3.2 trillion as of October 2019) and can boast of having the world’s largest labour force (778 million people) that can sustain its unstoppable march of spectacular growth.

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