Economic+Systems+of+Asia

Over the past 30 years China has grown from a centrally planned system that was mainly closed to international trade to a market-oriented economy. [] A market economy is an economic system that deals with trading, the exchange of goods, services, and information take place in. A market economy will decide the prices itself because of the factor of supply and demand. http://www.economywatch.com/market-economy/ Currently, China has a labor force of 807.3 million with almost half of the force having agricultural jobs. Also China has an unemployment rate of 4%, though the research only includes urban areas, with 21.5 million in rural China who are living under the absolute poverty mark. [] China's main exports last year were electronics, machinery, apparel, optical, photographic, and medical equipment; and furniture. The main agricultural products it makes are rice, wheat, potatoes, corn, peanuts, tea, millet, barley; commercial crops include cotton, other fibers, apples, oilseeds, pork and fish, and it also produces variety of livestock products. The main industry products are mining and ore processing, iron, steel, aluminum, coal, machinery, textiles and apparel, armaments, petroleum, cement, chemicals, fertilizers, consumer products including footwear, toys, and electronics, automobiles and other transportation equipment including rail cars and locomotives, ships, and aircraft, and telecommunications. http://www.state.gov/r/pa/ei/bgn/18902.htm Currently, the currency of China is the Renminbi, or Peoples currency. The other names for China’s currency are Yuan, Kuai, and it is abbreviated as CNY or RMB. In 2005 it was shown to be 8.11 CNY per 1 U.S. dollar. []
 * China’s Economic System**

Russia at first was a planned economic system but in the 1990s it went through a change to a market economic system. Russia is not a full market economic system yet, but it is much more open than it used to be. [] Currently, Russia has a labor force of 75.7 million, with more than half of those jobs being in the services occupation, it also has an unemployment rate of 6.4 percent and 15% of the population are below the poverty line. [] The main exports from last year were petroleum and petroleum products, natural gas, woods and wood products, metals, and chemicals. The main agricultural products are grain, sugar beets, sunflower seeds, meat, and dairy products. The main products in industry are things mainly made by manufacturers such as automobiles, trucks, trains, agricultural equipment, advanced aircraft, aerospace, machine and equipment products; mining and extractive industry; medical and scientific instruments. http://www.state.gov/r/pa/ei/bgn/3183.htm Russia’s current form of currency is the ruble, which is abbreviated as RUB and has been used in Russia for centuries. Currently one ruble is worth .03 U.S. dollars. [] India's current economic system is on it's way to becoming a market economy, India started economic reform in 1991 from a planned government to a market government. http://www.rediff.com/money/2005/jun/17guest.htm
 * Russia’s Economic System**
 * India's Economic System**

The current labor force in India is 523.5 million, with over half working in the agricultural sector. The unemployment rate has actually decreased from 2007 to 2008 where it is now 6.8% from 7.2%. The current percentage of people below the poverty line is 25%.

https://www.cia.gov/library/publications/the-world-factbook/geos/in.html

India's main exports are engineering goods, petroleum products, precious stones, cotton apparel and fabrics, gems and jewelry, handicrafts, and tea. Their main agricultural products are wheat, rice, coarse grains, oilseeds, sugar, cotton, jute, and tea which make up 18% of their GDP. Their main industrial products are textiles, jute, processed food, steel, machinery, transport equipment, cement, aluminum, fertilizers, mining, petroleum, chemicals, and computer software which make up 27% of its GDP. http://www.state.gov/r/pa/ei/bgn/3454.htm

India's currency is the Rupee, the Rupee is the official original Indian currency. The Rupee is worth .02 U.S. dollars currently.

http://www.gocurrency.com/countries/india.htm