Despite unprecedented development both economically and socially , China has remained a ‘ developing economy ’ . The reasons cited are several : a comparatively lower per capita income, incomplete market reforms , rising inequality , environmental threats, and other penetrating dangers of rapid growth and development.Urbanization in China has brought with it some known and some unpredicted disproportions.
In a decade which focuses on more intricate issues like climate change and carbon usage, China definitely falls under the spectrum of ‘need to change’. Like other developing economies, China faces the problem of improving the usage of sustainable energy, and focusing on the utilization of better tools for saving energy. This aside, in today’s global financial environment, inclusive growth is another challenge that China faces.