Question by : What does Chinas population have to do with its booming economy?
I’m doing an assignment and I’d really appreciate your help 
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Answer by SDD
When the supply of anything is very large, the price is very low. When you have a very large population the cost of hiring any of them will be low.
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Tags: booming, China's, Economy, Population
2 responses to What does Chinas population have to do with its booming economy?
with a booming population brings a booming economy.
The more people there are in a country, the more workers and businessmen that country will have.
with more people doing work and more consumers than any other country, that will lead to a massive economy.
I don’t know why the US is being so stubborn.
What does Chinas population have to do with its booming economy?
Nothing.
The big change has been the economic reforms.
http://en.wikipedia.org/wiki/Chinese_economic_reform
Before the reforms, China had the same population but much lower growth.
On the other side, Singapore, Taiwan, South Korea, and Japan all saw similar booms early on in their industrialization and all had and have much smaller populations than does China.
http://en.wikipedia.org/wiki/Japanese_post-war_economic_miracle
http://en.wikipedia.org/wiki/Four_Asian_Tigers
India, like China, has a huge population and saw very slow growth until it too instituted economic reforms. At that point, its economy started to boom.
http://en.wikipedia.org/wiki/Economic_liberalisation_in_India
So it is policy and culture that counts, not the absolute size of the population.
What does Chinas population have to do with its booming economy?
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