Economy of China

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/economy-of-china

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the economic model?Socialist market economy, characterized by state ownership and market-based allocation of resources
2. What is the nominal GDP?Approximately $18 trillion USD (as of recent estimates), second largest globally
3. What is a Special Economic Zone and why did China create them?Special Economic Zones are areas where the government lets businesses use market rules, attract foreign money and new technology, and help China grow faster.
4. How does China become a big maker of cool stuff?China uses many factories that work together, lots of roads, ports, and trains to move parts quickly, and it has many workers who can make things at low cost.

Socialist Market Economy: An economic system combining socialist principles with market mechanisms and private enterprise.
State-Owned Enterprises (SOEs): Businesses that are owned and operated by the government.
Foreign Direct Investment (FDI): An investment made by a company or individual from one country into business interests located in another country.
Supply Chain: The entire process of producing and delivering a product or service, from raw materials to the customer.