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Loans to China were suspended by the World Bank, Asian Development Bank, and foreign governments; [299] China's credit rating was lowered; [298] tourism revenue decreased from US$2.2 billion to US$1.8 billion; and foreign direct investment commitments were canceled. However, there was a rise in government defence spending from 8.6% in 1986, to ...
Elon Reeve Musk (/ ˈ iː l ɒ n m ʌ s k /; born June 28, 1971) is a businessman and U.S. special government employee, best known for his key roles in Tesla, Inc., SpaceX, and the Department of Government Efficiency (DOGE), and his ownership of Twitter.
Because of these posts, the party leader is seen as the country's paramount leader. The current leader is Xi Jinping, who was elected at the 1st Plenary Session of the 18th Central Committee held on 15 November 2012 and has been reelected twice, on 25 October 2017 by the 19th Central Committee and on 10 October 2022 by the 20th Central Committee.
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
China is the world's largest high technology exporter. [39] As of 2021, the country spends around 2.43% of GDP on advance research and development across various sectors of the economy. [40] It is also the world's fastest-growing consumer market and second-largest importer of goods. [41]
It is seen as the guarantor of the country's independence, [206] translating into Singapore culture, involving all citizens in the country's defence. [207] The government spent 2.7% of the country's GDP on the military in 2024, the highest in the region. [208] After its independence, Singapore had only two infantry regiments commanded by ...
Australia, officially the Commonwealth of Australia, [17] is a country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands. [18] Australia has a total area of 7,688,287 km 2 (2,968,464 sq mi), making it the sixth-largest country in the world and the largest in Oceania .