Chinese economy

The Chinese economy is the second-largest in the world, characterized by rapid growth and transformation over the past few decades. It shifted from a centrally planned system to a more market-oriented approach, leading to significant industrialization, urbanization, and increased global trade. Key sectors include manufacturing, technology, and services. China is a major player in international trade and investment, often referred to as the "world's factory." However, it faces challenges such as debt levels, environmental issues, and demographic shifts. The government plays a crucial role in guiding economic policies and maintaining stability.