Research paper Example | Topics and Well Written Essays - 1250 words - 14

Research Paper Example The real GDP growth of china again reduced to 7.8% and GDP hits approximately 8.23 million US dollars in 2012. According to International Monetary Fund China’s PPP in 2012 was 12,382.559 billion US dollar. According to World Bank’s report China’s PPP in 2011 was 11,290 billion US dollar. The country’s PPP in 2010 was 10085.71 billion US dollars. According to the IMF report it was estimated that Greece would achieve a GDP of 254,978 billion US dollar but finally had achieved a growth of -5.70%. According to the report of UN Greece had achieved a GDP of 299,001 billion US dollar at a growth rate of -6.7%. In 2010 the GDP of Greece was 271.112 billion at a growth rate of -3.5%. Since last few years Greece is going through several economical problems. On the other hand China is becoming one of the strongest leading economies globally. China is the second largest and strongest economy in the world (Deshpande & Nurse, 2012). The higher GDP growth rate, increasing GNP and increasing PPP is the evidence of China’s economical development. On the other hand, decreasing GDP growth rate, decrease in per capita income of people which has identified in this study clearly states the Greece is undergoing several economical problems. Greek government debt-crisis and European Sovereign-debt crisis is the key reason behind the economical problems of Greece. The Greek government debt crisis is a part of European sovereign-debt crisis. It is a structural weakness of the economy of Greece that coupled with banking and tax unification of the monetary union of Europe. Due to these kinds of problems Greece is going through several challenges. In terms of China, the Nation is experiencing a higher average growth rate of 10% over the last 30 years. Higher GDP growth, increasing per capita income, high disposable income of people and Higher GNP states that the country is becoming one of the strongest economies. According to reports of