China’s GDP has been growing at an average annual rate of 9.7 percent, and foreign trade 17.4 percent, ranking the fourth and the third respectively in the world. People’s living conditions have achieved overall well off. But China is and will stay in the primary stage of socialism for a long time.
Why a flexible exchange rate is the right choice for many Now, I should be clear right off the top that I'm not saying a floating exchange rate is the one and only choice for all countries at all times.