After this lesson, I was impressed how fast China's economic develop so quickly. Compared to China a few years ago, it was actually a country mostly on agriculture and their houses are short, now it is mostly high rise building and it is more industrialize. In fact because it is a big country, they have quite a number of factories to boost productivity. Thus, China was actually not very well-known but now if you asked anyone on the street 99.9% would say yes. In terms of GDP, China rank 2nd behind USA. Their population is very very large 1.4billion. 1.4 BILLION! This leads to too many people unemployed and low salary. As China is a huge country, they have plenty of factory and their items manufacture is amazing a lots. In addition, the corporate tax rate is lower than USA's so more people tend to import with China instead of USA. As a buyers perspective, people would rather get goods from China as it is much cheaper affecting USA.
Even though we will not be going to Tianjin, I think the Sino-Singapkre Tianjin Eco-city is a very meaningful for both Singapore and Tianjin. From this conserving city, it can maintain the good relationship between both countries. This agree,met is signed on 1 July 2008 and it has been operating for 7 years already.
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