Oil Pollution Act

The Oil Pollution act became a law in August of 1990. The public concern was high because of the Exxon Valdez incident. Because of the incident they created an Oil Spill Liability Trust fund, which was where they provide up to one billion dollars per oil spill. Exxon spilled over 11 million gallons of Alaskan crude into the water Prince William Sound. They did better things to safe the environment like, set  new requirments for vessel construction and crew licensing, also they increased penalties.

Consumer Protection

Fair Credit Reporting Act

The Fair credit reporting act is where there is fairness in the information that credit score companies give. They have to have accurate information before it is expressed at all. Also they can not sell information about people to marketers in any way at all.

Employee Protection

Child Labor Law

This law states that any child employeed needs to not be miss treated in any way. If they are employeed people employing them must go by the Fair Labor Standards Act to make sure that young kids working are not miss treated in the work force and that they are paid and treated fairly in the work  force.

The Flag of China

The map of China

The capitol of China is Beijing. They are a communist party-led state, currently they are led by the president whose name is Hu Jintao.

As of 2009 the GDP for China is 4.814 trillion. The argriculture products produced in china would be rice, potatoes, wheat, peanuts, corn, tea, barley, millet.
They have some major commercial crops such as, some fibers and cotten, oilseeds, and apples etc.

Industry types they hold are things like ore processing and minning, steel, iron, alumminum etc. They produce foot wear and toys
electronics and process food. They are one of the major countries that export to the United States.

 The major trade partners that China has are the U.S., Japan, South Korea, Germany, and Taiwan.
The major exports from China are the major industrial products too.

Currency

This currency in China recently is the Renminbi.

Chinese Money

Trade Deficit

The money in China was first produced in 1949 when the communist attack started.
Recently in 2009 the deficit with the US and China was $227 billion and in 2008 it was $268 billion.
It is the largest in the world between any two countries. That deficit means that the US exported 69.6 billion in goods and services to China
while the US imported over $296 billion. 

Trade Surplus

China is the world’s biggest exporter and it posted at $16.9 billion trade surplus for September of 2010.
Exports went up 25.1% in a year and imports went up 24.1%.

Standard of Living

China goes through a lot of hard times because they are a cheap country in a way. In Beijing and other places salaries are slowly going up each month so they are trying there best to get people the money they deserve for the hard work and good products that they produce for the US and many other places in the world and we all need it or we wouldn’t have most of what we have now for a lot of reasons.