In this first edition of China Brief, we take a quick look at some of the key drivers shaping China’s economy today.

The structure of the Chinese economy today is very different from 2003, and China will also face global headwinds as the economies in North America and Europe are … Economic activity weakened in 2018: Official statistics placed real GDP growth at 6.6 percent in 2018, the lowest rate since 1990. Still, China's growth rate has slowed to single digits as its leaders attempt to head off an asset bubble through reform. China’s economic freedom score is 59.5, making its economy the 103rd freest in the 2020 Index.
Growth is slowing—but China is still adding the equivalent of Australia every year.
The Transition from Pure Socialism to Market Socialism Founded in 1949, the People's Republic of China is a socialist state. 1.

Under this system, the state still owns the means of production, but the market portions out resources. China has been the world's largest economy since 2015, when it took the top spot from the EU. The dollar is buoyed by the power of the U.S. economy. China has the second-largest economy in the world in terms of nominal gross domestic product (GDP), and the largest economy in terms of purchasing power parity (PPP). China's economic system is a blend of socialism and capitalism called a socialist market economy. China Business, Market & Economy News - BloombergQuint offers the latest news and headlines on Chinese economy, business and markets. However, China's long term growth potential will not be affected by the short term fallout of the coronavirus pandemic, as the country's economic fundamentals remain unchanged, the authorities said. Officially the People’s Republic of China, the country had an estimated nominal GDP of $13.457 trillion in 2018, while PPP in that same year stood at approximately $25.313 trillion. So it's unlikely that the Chinese yuan will replace the dollar as the world's reserve currency anytime soon.

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