Period+3+China+Economy

=China's Economy By: Emily Stokan, Zack Beggs, and Josh Graf= Picture: China's Currency

====Since initiating a more market-oriented economy, China has received major economic success. China's economy during the past 30 years has changed from a centrally planned system, which was largely closed, to international trade making China a major player in the global economy. Unfortunately even with its success the Chinese government faces numerous economic development challenges. Some of these challenges include reducing its high savings rate, gaining adequate job growth for the people, reducing corruption and other economic crimes, and containing environmental damage related to the economy's transformation. In 2009, the global economic downturn reduced foreign demand for Chinese exports for the first time in many years. The government stated they would continue to reform the economy and emphasize the need to increase domestic consumption in order to make China less dependent on foreign exports for GDP growth in the future.====

Watch this video for a lesson on China's Economic Success:
= The CHINDIA Miracles -China & India's Economic Success = media type="youtube" key="hLwZ0tEqE-A" height="385" width="480"

Sources- CIA WorldFactbook [] Picture- Google Images- China's Currency Video- Youtube China's Economy []