China Economy Vs United States

The development of humanity advanced immensely from separation of countries and races with primitive tools to a global modification of modern equipment and rapid communication of over seven billion people. An economy consists of the retrieval and production of raw materials, transformation of raw or intermediate materials into goods, and supplying of services to consumers and businesses. In the past decade China’s economy has expanded tremendously, producing up to $17.6 trillion, upscaling the United States, which is has the largest economy in the world and is under China at number two with $17.4 in terms of goods and services. Two countries that that have been in competition of an improved economy are China and The United States of America. China is a nation with outstanding culture and inventions but recently China produces products at a cheap price and most of low quality. Business around the globe arrive at China to produce their products and create factories and manufacturers. Currently China advanced in all aspects of their nation now being the world’s largest economy. China’s current economic indicators are 1.4 billion in population, unemployment rate of 4.07, inflation rate of 0.8 percent, and a gross domestic product of $9.24

With a great diverse population everyone strives to get rich and collect money. The U.S has been more powerful than ever having the strongest military in the world. The economic indicators of America are 319 million in population, unemployment rate of 5.6 percent, inflation rate of 0.76 percent, and a GDP of $16.77 trillion. America now being number two of having the largest economy had a great impact on realization of its people that now over all these years there is real competition. In order for the U.S to prove that it is better and the greatest out of all the countries it must step up in its plays in this