Economic Recovery on the Way
Economic experts are predicting that the poorly performing domestic economy will recover in the next financial quarter. After months of economic recession, local companies (44) to make larger profits. Ted Wilder, a leading authority in the field, suggests that the reasons for the positive outlook can largely be attributed to recent (45) .
Laws enacted by the federal government last month granting benefits and subsidies to the manufacturing industry have greatly increased production, leading to record numbers of goods being shipped overseas. The (46) . in exports is also having a positive impact on the rest of the economy.
It is difficult to overstate how the reforms since 1978 have improved the life of the average citizen in China. According to China’s Office on Poverty Alleviation and Development, well over 100 million individuals have risen out of destitution and now live above the official poverty line (set at annual per capita income below 640, which equals $ 77). At present, 42 million Chinese still live below the poverty line. Much work, of course, remains to be done in this regard.
In addition to helping alleviate poverty, the economic reforms in China have brought overall gains as well as the gains per capital income for both urban and rural residents suggest. While there is some question on the veracity of data.
The overall quality of life for the average citizen in China has improved dramatically since the reform in 1978. Citizens now have access to better services in crucial areas such as health care and ’education.
41. ______.
The better live
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