Comparative Macro-Economic Analysis of UK and China

The assignment is an analysis of the macroeconomic factors of UK and China, including geographical attributes, government types, economic systems, population, religion, language, GDP composition by sector, expenditure on education, health, and military, top products and services produced, employment rates, inflation rate, gross national saving, fiscal policy information, and international economics. The analysis aims to compare and contrast the two countries' macroeconomic factors, highlighting differences in their geographical attributes, government types, economic systems, population, religion, language, GDP composition by sector, expenditure on education, health, and military, top products and services produced, employment rates, inflation rate, gross national saving, fiscal policy information, and international economics.

Country and Analysis
(MACROECONOMICS)

ANALYSIS OF UK AND CHINA ON BASED UPON THE FACTORS OF
MACROECONOMICS
This is to analyse the two elected countries named UK and China on the basis of their
macroeconomic factors. This evaluation is evident to support is acknowledging the potent
dimensions of both these places by together addressing the most considerable location as per
their scrutinised outcomes. With reference to which, their exists some vital parameters to
conduct the assessment of both these countries with a foremost ground of their distinct
geographical attributes. This further defines the land area where UK consists of around 243, 610
square km with another ratio of China with 9.597 million square km. There together exists some
vital data about their three principle cities where London is the capital of UK and Beijing is of
China. Wherein, the three key urban centres of UK are London, Birmingham and Leeds and in
China, Shanghai, Beijing and Guangzhou. This geographical context has together referred to the
surrounded countries of UK that involves Scotland, Wales and northern Ireland in UK and North
Korea, Russia and Mongolia in China. Additionally, this segment has together involved the
rivers that have surrounded UK namely River Thames, River Bann and River Tywi and in China,
these are Yellow river and Yangtze.
Another factor of this macroeconomics has involved yet another set of their governmental
means where the government type of UK is governed by Unitary state, constitutional monarchy
and Parliamentary system. However, the regimental bodies of China has hereby depicted to be
ruled by Communist state, Socialist state, People's democratic dictatorship, Unitary state and
One party state. Wherein, the current leader of UK is Theresa May as their prime minister and Li
Keqiang as the prime minister of China. Apart from which, the economic system prevailing in
UK defines the state of mixed economy with socialist market economy of China.
People and society is referred to be yet another principle parameter to evaluate these two
countries where UK is residing with a total population of 64.1 million and China with 1.357
billion. The principle ethic group of UK comprises with Gypsy, Travellers, Irish, Treveller and
Asian and Asian British that involves Indians, Pakistanis and Bangladeshi. It is along with a
depicted data of China where their ethnic groups comprises with Zhuang, Uyghur, Hui, etc. On
referring to the religious belief of UK, they are evident to composed of Christianity, Islam,
Hinduism, Sikhism, Judaism and Buddhism with another depiction of China where they are
composed of similar set of religions with two additive beliefs of Taosim and Confucianism.
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Herein, the principle language of UK is English with Mandarin Chinese and standard Mandarin
as the principle laundresses of China.
However, on referring to the economic status of both the nations as another parameter of
their macroeconomics analysis where UK is more evident to rule their economic position with a
GDP of 41, 787.47 USD and China at a mere position of 6, 807.43 USD. Whereas, on referring
to GDP composition of both these countries on their sectoral basis, it has been found that China
is leading in their agricultural sector with 8.60% GDP and UK with a nominal rate of 0.60%.
However, the industrial spectrum of UK is more in comparison to China with a leading ration of
19.20% and China at 12.80%. Yet again, UK is at a leading position in their service based
industry with 80.20% with 50.70% in China. Additionally, this parameter has also enumerated
the expenditure of each of this country on three sectoral basis of their education, health and
military where UK is hereby at 18.26% and China at 34.08%. This depicts a huge difference
among both with a greater expenditure of China in their educational system. Moreover, the top
three products and services produced in UK involves Mineral fuels and oil with 16% Market
shares, nuclear reactors and parts with 14% shares and Cars and vehicles with 10% shares.
Wherein, China is evident to deal in some other production of electronic equipments, Machines,
engines and pumps and Furniture, lightning and signs with affluent market shares in these areas.
However, the employment rate of China is comparatively lower than UK where China is at 4%
of unemployment rates and UK at 5.40% which is a considerable sign for China. It is also
depicted due to another major cause with a greater participation of employees in China as
compared to UK. It is where the participation rate of men labour forces in UK is 82% and 84% in
China. Whereas, in case of females, 56% of women labour forces tends to participate in UK with
64% in China. However, on configuring the inflation rate on consumer price in UK is relatively
low with a ratio of 1.60% as compared to China with 2.10%. Also, the gross national saving of
UK is much lower that China where UK is at 15.50% and China at 49.20%.
On considering yet another parameter of fiscal policy information, UK has 25% GDP in
terms of their taxes and other revenues that is much higher than that of China with 9.70%.
Wherein, the public debt of UK has showcased a 89.20% with 250% in China. However, on
referring to the information of International economics as yet another conceptual parameter, it
has been found that the current account balance of UK is at a negative range of -25494 where
China is positively at 692.54. Also, US, Germany and Switzerland are the three key trading
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partners of UK where China is more apparent to deal with European Union, US and Hong Kong.
The currency name of UK is Pound sterling where Renminbi is the medium of exchange in
China.
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REFERENCES
Books and Journals
THE WORLD FACTBOOK. 2016. [Online]. Available through:
<https://www.cia.gov/library/publications/the-world-factbook/>. [Accessed on 19th January
2016].
THE WORLD BANK. 2016. [Online]. Available through: <http://data.worldbank.org/indicator>.
[Accessed on 19th January 2016].
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