China and Singapore's economic growth
During today's CID lessons,we learnt about China's rapid economic growth and also the main reasons for its growth.
In the lesson, we pen down and talked about the factors contributing to China's economic growth and here are the some of them:
1. Cheap ManPower. Chinahas a huge population of 1.4 billion and this means that there will be no lack of manpower and cheap labours for the foreign investors to hire. They will be able to find enough workers and do not need to spend a large sum of money on the workers' pay of salary.
2. Landmass . Land is also needed for factories and so on. and China's land mass is a enormous size of 3854082 square miles and there will be more space to build factories and other stuff that were needed.
3. Low Corporate Tax. China had provided one of the lowest corporate tax rate in the world of 25% as compared to America's tax rate of 35%. In this case, with this low tax rate,it will more likely to attract more foreign investors to China to start up business than other countries who have a higher tax rate are likely to have less foreign investors.
These few factors have contribute to attracting foreign investors and expanding international trade to china.
1. Cheap ManPower. Chinahas a huge population of 1.4 billion and this means that there will be no lack of manpower and cheap labours for the foreign investors to hire. They will be able to find enough workers and do not need to spend a large sum of money on the workers' pay of salary.
2. Landmass . Land is also needed for factories and so on. and China's land mass is a enormous size of 3854082 square miles and there will be more space to build factories and other stuff that were needed.
3. Low Corporate Tax. China had provided one of the lowest corporate tax rate in the world of 25% as compared to America's tax rate of 35%. In this case, with this low tax rate,it will more likely to attract more foreign investors to China to start up business than other countries who have a higher tax rate are likely to have less foreign investors.
These few factors have contribute to attracting foreign investors and expanding international trade to china.
I think that China will become a large economy investment centre in the future, what happens in China will not only affect China itself but also other countries, such as Singapore. China having cheap manpower and natural resources will also result in other countries to import products from them and making China one of the largest exporting country. I strongly thinks that in the future we need to be prepared for a new world with international trading shifting from Europe, America to Asia, we need to keep up with the new trend and pacing and changes.
I believe that we will need to go into China in terms of culture, economy, people, and so on, to learn more about China.
I believe that we will need to go into China in terms of culture, economy, people, and so on, to learn more about China.
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