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As the world’s primary reserve currency, currency intervention generally focuses on exchange rate between the US dollar and the target currency. [16] System Open Market Account is a monetary tool of the Federal Reserve system that may intervene to counter disorderly market conditions. [ 17 ]
The GDP dollar estimates presented here are either calculated at market or government official exchange rates (nominal), or derived from purchasing power parity (PPP) calculations. This article also includes historical GDP growth. China's real GDP growth by decade since 1960s, with estimated rate for 2020s from the Bloomberg Terminal (WRGDCHIN)
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP).
At the 6th BRICS summit in July 2014 the BRICS nations (Brazil, Russia, India, China, and South Africa) announced the BRICS Contingent Reserve Arrangement with an initial size of US$100 billion, a framework to provide liquidity through currency swaps in response to actual or potential short-term balance-of-payments pressures.
The average surveyed unemployment rate in urban areas was 5.1% throughout 2021, with the rate at the year's end also at 5.1%, while the registered unemployment rate was 3.96%. [23] The total number of migrant workers reached 292.51 million, up by 2.4% compared to 2020. [ 23 ]
The U.S. unemployment rate peaked at 11.0% in October 2009, the highest rate since 1983 and roughly twice the pre-crisis rate. The average hours per work week declined to 33, the lowest level since the government began collecting the data in 1964. [34] [35] The economic crisis started in the U.S. but spread to the rest of the world. [29]
The following are partial lists of the Forbes list of Chinese billionaires (converted into USD) and is based on an annual assessment of wealth and assets compiled and published by Forbes magazine in 2022. [1] In 2022 China had 607 billionaires which put the country second in the world, after the United States (735). [2]
The rate of natural change (births as opposed to deaths) was negative for the European Union as a whole in 2022: the population declined by 0.1 per cent per year without net migration. Of the most populous countries, particularly Italy (over -0.5 per cent) and Germany (roughly -0.4 per cent) saw a large natural population decrease.