The reasons why China has flatter business cycles than the US:
1. A major part of China economy is comprised of state-owned businesses / national enterprises with very large capacities and economic powers. Anything bad that happens to the economy can be immediately and silently negated without going public. Fluctuations are there, just not known to people.
Government officials and economists the world over have had great difficulty, especially in developed countries, in stimulating job growth to a material degree in their respective economies, ever since the millennium crossover. Productivity has continued its steady rise up the scale, but according to most economics textbooks, these gains are supposed to lead to more jobs, higher wages, and greater wealth accumulation, but such has not been the case for a disturbingly lengthy period of time.
The green gross domestic product is an index of economic growth that factors in environmental consequences. Green GDP has gained in popularity for the past 20 years around since Rio Earth Summit in 1992. It differs from the traditional GDP index in that it takes in the factors which reflects the extending environmental effects of economic growth.
Frictional unemployment is also sometimes referred to as search unemployment. It refers to the unemployed period when people are between jobs or looking for their first job. This is the one type of unemployment that is probably impossible to eradicate completely. It is far less serious than the chronic lack of work that some people are faced with. In a lot of instances frictional unemployment will be voluntary because people are trying to find the work that offers them the best pay and conditions.
Cyclical unemployment is closely related to Keynesian economics theory. It refers to a situation where there are more people looking for work than there are jobs available. This type of unemployment is caused by the business cycle. It can occur for a number of reasons but is related to the performance of the economy. A good example is when cyclical unemployment occurs due to a fall in consumer demand. This leads to manufacturers reducing production and thus not needing as many employees. This situation causes increased unemployment.
If you follow the economic news you will probably have heard the word inflation, used many times; it has also become part of our everyday vocabulary. Despite the fact that most of us will be familiar with the word, we may be a bit unclear about exactly what this is or what causes it to happen. This is a topic that is much debated and of great concern to economists, politicians, business owners, investors, and others. It is something that may be of concern to everyone as inflation can impact us all in one way or another.