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#china #economy #chinaeconomy #pakistan
#china #economy #chinaeconomy #pakistan
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CreativityTranscript
00:00Assalamu Alaikum, I am Mirza Sobhan Baig.
00:07Dear viewers, China's rapid development has shocked the world.
00:11It not only strengthened its infrastructure, but also removed people from poverty.
00:16In 1952, China's GDP was 30.55 billion dollars.
00:21Now it has become the second largest economy in the world.
00:25According to purchasing power, China is the largest economy in the world.
00:30China did not develop so much overnight, but it took years to reach here.
00:35China is becoming a new superpower due to honest leadership and strong policies.
00:42In 1949, when the Communist Party came to power, China had nothing.
00:48Poverty was everywhere. It was very difficult for people to get two meals a day.
00:58A large population was living below the poverty line.
01:02But then industrial policies and five-year plans were implemented.
01:07Now this is the second largest economy in the world in terms of nominal GDP.
01:12In 2022, China's economy was 18% of the world's nominal GDP.
01:17According to the purchasing power parity, it is 19% of the world's economy.
01:23According to the IMF, China's nominal GDP is 18.35 trillion dollars.
01:31It is the second largest economy after the United States.
01:37According to the purchasing power parity, China's economy is 35.29 trillion dollars.
01:44It is the first largest economy in the world.
01:47In contrast, the U.S. PPP GDP is 28.78 trillion dollars.
01:54That is, China's GDP growth was 6.17% by 1978.
02:01Economic reforms were implemented in 1978.
02:04China's economic growth during the next 45 years was approximately 90%.
02:11China's economic growth was so fast that it left the world behind.
02:17In 2000, Italy, in 2005, France, in 2006, Britain, in 2007, Germany, and in 2010, Japan were left behind.
02:27What is the secret of China's rapid growth?
02:30The biggest reason for this is the infrastructure development and industrial zones.
02:37If you look at the pictures of ancient China, it looks like a village in terms of infrastructure.
02:45But if you look at the condition of its cities, you can guess what development is.
02:52The West is considered the most developed.
02:55But when travel vloggers from Western countries go to China, their eyes remain open.
03:02China is hundreds of years ahead of the rest of the world.
03:11The public transport system is the most modern here.
03:14China's bread trains are the fastest in the world.
03:17America is the largest economy in the world.
03:20But there is only one train there, which is called the high-speed rail.
03:24Its speed is 240 km per hour.
03:27The rest of America's railways run at the same speed as old trains.
03:35On the other hand, China has the fastest railways in the world.
03:41China's fastest train runs at a speed of 460 km per hour.
03:46This is two times faster than the fastest rail in America.
03:51There are many railways in China that run at speeds of 200-300 km per hour.
03:56In addition, there are many high-rise buildings here.
04:00High-rise buildings not only prevent cities from spreading, but also show the development of any country.
04:06China is far ahead of the rest of the world in the field of industry.
04:10It is also called the factory of the world.
04:12It is the world's largest manufacturing economy and also the largest exporter.
04:19It is the most important player in the world's trade.
04:22China has not only advanced in the field of manufacturing, but is also well aware of the demands of the time.
04:29It is becoming the hub of the fast-changing high-tech industry in the world.
04:33It is leading the world in the fields of electric vehicles, renewable energy, telecommunications and IT.
04:40China has opened its doors to the world.
04:44That's why there is a lot of foreign investment here.
04:48In 2020, the world's largest foreign investment was made in China.
04:54Its volume was $ 163 billion.
04:58In 1952, China's total GDP was $ 35.5 billion.
05:02But now, its exchange funds surprise people.
05:07China is the world's largest country in terms of exchange funds.
05:12Its funds are estimated at $ 4000 billion.
05:17Because of China's open economy, the people here are getting happier with each passing day.
05:23China's unfair distribution of wealth is very low compared to other countries.
05:28There are more than 50 million people here who earn more than $ 1,400 a month.
05:34If this amount is calculated in Pakistani Rupees, it becomes 400,000 Rupees.
05:40China thought about its country's development as a nation.
05:44The leadership here worked very faithfully.
05:48This is the reason why China has developed so fast that other nations will not be able to achieve it in the future.
05:56That's all for today. Keep watching Daily Pakistan for more interesting videos.