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Economic Comparison of China and Australia: A Comparative Study

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Added on  2021-04-21

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ECONOMICS 3 ECONOMICS Economics Name of the student Name of the University Author note Introduction: 3 Economic comparison of China and Australia: 3 Comparison of growth rate of China and Australia: 4 Employment comparison: 5 Standard of living comparison of two countries: 6 Environmental policy contrast: 6 Comparison of inequality: 6 Government’s role comparison: 6 Welfare system: 6 Education: 7 Market involvement: 7 Reference: 8 Introduction: This report is meant to analyse the economic performance of both the countries

Economic Comparison of China and Australia: A Comparative Study

   Added on 2021-04-21

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Running head: ECONOMICSEconomicsName of the studentName of the UniversityAuthor note
Economic Comparison of China and Australia: A Comparative Study_1
2ECONOMICSTable of ContentsIntroduction:....................................................................................................................................3Economic comparison of China and Australia:...............................................................................3Comparison of growth rate of China and Australia:........................................................................4Employment comparison:................................................................................................................5Standard of living comparison of two countries:.............................................................................6Environmental policy contrast:........................................................................................................6Comparison of inequality:...............................................................................................................6Government’s role comparison:......................................................................................................6Welfare system:...........................................................................................................................6Education:....................................................................................................................................7Market involvement:....................................................................................................................7Reference:........................................................................................................................................8
Economic Comparison of China and Australia: A Comparative Study_2
3ECONOMICSIntroduction:This report is meant to analyse the economic performance of both the countriesdepending upon the comparison of factors like growth rate, employment, standard of living andfrom various other perspective. Economic comparison of China and Australia:China is the second largest economy around the world, which has GDP value of 14.23trillion next to US. Country is based on the service sector, which contributed 51.6% of the GDP(Pothen and Schymura 2015). On the other hand Australia ranks 13 according to the GDP rankand it possesses GDP value of 1.390 trillion. Most of the GDP of the country comes from servicesector, which highlights that the economy is a developed one.20122013201420152016020000000000004000000000000600000000000080000000000001000000000000012000000000000GDP comparisonChinaauatraliaFigure 1: Comparison of GDP of China and AustraliaSource: (Created by Author)Considering the figure 1, it can be seen that China has been growing at a rapid rate duringthe last five years. Upward sloping line of Chinese GDP highlights that its GDP has been
Economic Comparison of China and Australia: A Comparative Study_3

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