People's Republic of China

China (Chinese: 中国; pinyin: Zhōngguó), officially the People's Republic of China (PRC; 中华人民共和国; Zhōnghuá Rénmín Gònghéguó), is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019. It is led by the Communist Party of China (CPC) which espouses Socialism with Chinese Characteristics, built atop a theoretical foundation of Marxism-Leninism.

Politics

The Chinese constitution states that The People's Republic of China "is a socialist state under the people's democratic dictatorship led by the working class and based on the alliance of workers and peasants," and that the state organs "apply the principle of democratic centralism."

The PRC is one of the world's only socialist states explicitly aiming to build communism.

Its current political, ideological and economic system has been termed by its leaders as a "consultative democracy" "people's democratic dictatorship", "socialism with Chinese characteristics" (which is Marxism adapted to Chinese circumstances) and the "socialist market economy" respectively. According to Lutgard Lams, "President Xi is making great attempts to 'Sinicize' Marxist–Leninist Thought 'with Chinese characteristics' in the political sphere.

Economy

Since 2010, China had the world's second-largest economy in terms of nominal GDP, totaling approximately US$13.5 trillion (90 trillion Yuan) as of 2018. In terms of purchasing power parity (PPP GDP). Between 2010 and 2019, China's contribution to global GDP growth has been 25% to 39%.

Despite the COVID-19 economic shock, as well as foreign hostility against China, President Xi Jinping claims that it is ‘completely possible’ to double size of economy by 2035

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