The country is China

The Aim: This assignment aims to stimulate real application of economics principles related to the three pillars of the economy: GDP, level of prices and labor market. It will give you an opportunity to demonstrate your understanding of these macroeconomics concepts by collecting and analyzing economic data. You are to locate and compile data and information on a designated country, then write a concise report describing its economic status. Your report must include: . A general introduction . GDP and its Components: Report on current real GDP of your research country. Compare it to previous year's GDP and discuss how that reflects on the standard of living of the citizens of the country. Compute and report consumption, investment, government purchases, exports, imports, and net exports. Explain whether your country has a trade surplus or a trade deficit. . Prices and Inflation: Calculate the current inflation rate of your country. Is inflation currently a major concern for your research country? Report on the CPI (or the GDP deflator) of your country and interpret the results. . Labor Market: Compute the current unemployment rate for your research country. How does this compare to unemployment in the preceding year? Discuss the major causes of unemployment in your country. Do all people seem to be equally affected by unemployment - i.e., are some groups of people more affected by unemployment than others? Note that you should state units of measurement for all figures in your report (e.g. trillions of US dollars)