China and the United States: Population and Economy Compared
Hasan A. Yahya, Professor of Sociology
The modern state of China was established in sixty years ago, specifically on October 1, 1949 as the People Republic of China. Total population of 1.328 billion according to 2008 reports which constitutes about 22% percent of total world population. Data on China show that the year of 1998 brought 19.91 million births, 8.07 million deaths of the population, with a net growth population of 11.84 million (compared with 12.37 million in 1997); More than 10% of total population is over 60 years old (1999 data) while in the United States is a little over 13% percent. The GDP (2007) 24661.9 billion yuan RMB (3425.3 billion US$) a 11.4% increase over 2006. Compare GDP (in 1999, China's GDP was 8205.4 billion yuan RMB, about 0.6 billion US$) , compared to the United States, the U.S. GDP of .4 trillion constitutes 23% of the gross world product at market exchange rates and almost 21% of the gross world product at purchasing power parity (PPP). The largest national GDP in the world, it was about 5% less than the combined GDP of the European Union at PPP in 2008. The country ranks seventeenth in the world in nominal GDP per capita. and sixth in GDP per capita at PPP according to International Monetary Fund (IMF). In the third quarter of 2009, the American labor force comprised 154.4 million people. Of those employed, 81% had jobs in the service sector. With 22.4 million people, government is the leading field of employment. About 12% of workers are unionized, compared to 30% in Western Europe. In 2008, the USA led the world in productivity per hour, overtaking Norway, France, Belgium and Luxembourg, which had surpassed the United States for most of the preceding decade. Compared to Europe, U.S. property and corporate income tax rates are generally higher, while labor and, particularly, consumption tax rates are lower.
The United States was established more than two hundred years ago, its population is projected by the U.S. Census Bureau to be 308,195,000, including an estimated 11.2 million illegal immigrants. It is the third most populous nation in the world, after China and India. Its population growth rate is 0.98%, compared to the European Union's 0.11%. The birth rate of 13.82 per 1,000, 30% below the world average, and higher than any European country's except Albania and Ireland. In fiscal year 2008, 1.1 million immigrants were granted legal residence according to Naturalization Department. Mexico has been the leading source of new residents for over two decades; since 1998, China, India, and the Philippines have been in the top four sending countries every year. The United States is the only industrialized nation in which large population increases are projected unlike China and European nations.
While the United States is the largest importer of goods and third largest exporter, exports per capita are relatively low. Canada, China, Mexico, Japan, and Germany are its top trading partners. In 2007, vehicles constituted both the leading import and leading export commodity.[ China, in contrast, is the largest foreign holder of U.S. public debt. After an expansion that lasted just over six years, the U.S. economy has been in recession since December 2007 caused by international wars budgets. But the U. S still ranks second in the Global Competitiveness Report.
Where China and the United States are heading in the future? China is a leading force in the East. The United States is a leading force in the west. While World economy is shifting eastward, including Japan and Singapore in the international competitive market, China is getting more and more in market and competitive economy practices. Where the two most recognized brands in the world, Coca-Cola and McDonalds are permitted in China, and Chinese investments are permitted in the United States. But in terms of population growth, it cannot be determined equally among these countries. And policies range between forcing restrictions and easing them. It is my belief, that the two countries are coming more and more to have same policies in terms of population growth and import-export sectors. (691 words) www.askdryahya.com
