Economy of Manchuria

From Constructed Worlds
Jump to navigation Jump to search
Economy of Manchuria
File:五里河商圈.jpg
Mukden, financial capital of Manchuria
Currency Manchukuo Yuwan
fiscal year
Statistics
Main data source: name abbreviation used at the CIA World Factbook web-page CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

The Economy of Manchuria is an emerging free market economy. It traditionally had a high economic growth for a Communist state, then stagnated during the 1990s, then rebounded during the early 2000s until the 2008 Global Economic Crisis. It has rebounded in 2011, though never at the levels of the early 2000s.

After the fall of its communist regime in 1990, Manchuria decided to have limited economic reforms, due to need of foreign currency and investment. The Manchurian government, fearful of heavy unemployment, kept some strategic industries under government control. However, it created difficulties for its economy even as it entered the World Trade Organization in the late nineties.

Manchuria is traditionally dependent on heavy industry, with automobiles, ships, trains, and heavy equipment its prime exports along with coal and petroleum. However, it is also known for its great agricultural base, with Manchuria traditionally the leading country in production of sorghum and the third largest soybean producer in Asia after China and India, and only second to China in wheat production in East Asia.

Manchuria currently has a mixed market-driven economy, with an annual growth of 3.5% by 2019. Manchuria's greatest trade partners are its neighbors China, Russia, and Korea, as well as Japan.