Domestic Goods in China

China is a resource-rich country with the ability to produce most any item it requires.  Mineral resources provide it with all the metals it needs, and the country also holds large oil and natural gas deposits.  As such, the goods made in the state vary greatly in use, materials, and purpose.  For example, machinery is one of the largest fields of industry in China, and items such as automobiles, textile tools, and turbines are efficiently made.  From the metals found in China’s ground, iron and steel are integrated as raw materials as well as used in the machinery factories created.

High Exports and Low Imports

In light of its power to make nearly any item it needs, China’s main focus in fueling its economy is exports.  Of the goods it creates, China exports over $1.5 trillion worth to other countries.  As such, it holds a great deal of economic power as a major global producer.

China’s thriving export economy makes it a great deal of money.  As a result, the nation attempts to limit the number of goods it imports to remain fiscally balanced.  This places a premium on domestic goods, which the state pushes on its people.  While the West may view this as manipulative, it seems to work with great success for the nation as a whole.  Domestic sales keep up with production, and the demand for Chinese goods in China itself is substantial.  This helps balance the country, keeping it from having to look outside its borders to replace the goods it exports.

This is important, as it would most likely be quite costly to bring in the same kind of goods it puts out.  While the United States can export goods while importing the same items from countries like China, it is able to remain profitable.  As U.S. goods require higher prices, the state can afford to buy cheaper products of the same sort from other producers.  As Chinese items sell at low prices, they cannot.  This means keeping domestic items in the country as well as out is very important.

Of the countries that have shown outstanding growth in past decades, China must be the most impressive.  Following the fall of Russian communism, it seemed unlikely that state ruled economies could succeed.  Through their hybrid-planned economy, China has become an exception to that rule.  By creating domestic products at an incredible rate, exporting them and limiting their imports to a minimum has demonstrated that China is self-sustainable in the global economy.