L1-China&39;s Economic Conditions(12)

Table 6. Major Chinese Imports, 2002-2004

($ billions)

Commodity

Electrical machinery and equipment andparts; sound recorders and reproducers,television recorders and reproducers,parts and accessories.a

Boilers, machinery, mechanicalappliances, and parts.bCrude oilPlastics

Organic chemicals

200226.4

200341.9

200461.4

2004/2003 % change

46.8

21.212.817.411.2

29.819.821.016.0

38.633.928.123.8

29.571.133.448.8

Source: Global Trade Atlas.

a. Electronic integrated circuits and micro-assemblies and parts constitute a large share of these imports.b. Office machines and automatic data-processing machines (such as computers) and parts constitute a large

share of these imports.

Table 7. Major Chinese Exports, 2002-2004

($billions)

Commodity

Boilers, machinery, mechanicalappliances, and parts

Electrical machinery and equipment andparts; sound recorders and reproducers,television recorders and reproducers,parts and accessoriesApparel

Furniture, bedding, and lampsOptical, photo, and medical equipment and parts

Source: Global Trade Atlas.

200250.9

200383.4

2004118.3

2004/2003 % change

41.8

65.236.69.97.4

89.045.812.910.6

129.754.817.316.3

45.719.734.353.9

Major Long-Term Challenges Facing

the Chinese Economy

China’s economy has shown remarkable economic growth over the past several years,and many economists project that it will enjoy fairly healthy growth in the near future.However, economists caution that these projections are likely to occur only if Chinacontinues to make major reforms to its economy. Failure to implement such reforms couldendanger future growth.