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		</div><p>In today&#8217;s economy, China has risen up to becoming one of the world&#8217;s fastest growing economies. In the past 20 years China&#8217;s GDP increased by 10% a year from 1993 to 2013, becoming the second largest economy in the world behind the United States. In that time, Chinese GDP (current US$) increased from $0.44 trillion to $9.24 trillion, with its share of the global GDP rising from 1.7% to 12.2%. Between 1993 and 2013, Chinese GDP (current US$) increased from $0.44 trillion to $9.24 trillion, with its share of the global GDP rising from 1.7% to 12.2%. This has been the most unprecedented growth seen in decades.</p>
<figure id="attachment_77130" aria-describedby="caption-attachment-77130" style="width: 821px" class="wp-caption aligncenter"><a href="http://londonglossy.com/wp-content/uploads/2015/07/image115.jpg"><img src="http://londonglossy.com/wp-content/uploads/2015/07/image115.jpg" alt="Source: Office of National Statistics" width="821" height="434" class="size-full wp-image-77130" /></a><figcaption id="caption-attachment-77130" class="wp-caption-text">Source: Office of National Statistics</figcaption></figure>
<p>But this information is all great for the East, but how does it affect the UK? Well, for starters during the rise of China&#8217;s economy, the share of the global economy accounted for by the UK&#8217;s trading partners, Europe and America, fell. The relationship between the UK and China increased more consistently since 2004, with growth coming from imports (£11.4 billion £37.6 billion in 2014). The only consequence of increasing imports is an unequal balance of exports. This trade deficit between China and the UK grew to £22.1, the second largest behind Germany.</p>
<p>The latest emergence of the BRICS (Brazil, Russia, India, China, South Africa) economies has made an astounding contribution to the world&#8217;s growth, and has become second in overall imports to the UK. Now as for jobs, there are 654 UK owned businesses in China providing jobs for 148,822 people and a turnover of £13.4 billion. </p>
<p>China will continue to play a major role in the world&#8217;s growth, especially with the creation of the BRICS Bank. The UK can benefit greatly from keeping relations with the Chinese economy close.</p>
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