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The change in the mean value of labor is small with only 2.5% of annual growth rate. As for the trade volume, the mean values of both imports and exports jumped twofold, indicating Chinaâs increasing participation in international trade.
What is the impact of the inflation rate on the GDP growth rate? Answer Wiki. GDP is the total production that occurs in an economy thus if prices rise due to inflation, the cost of factors of production increases (raw material, labor, capital, ect) the cost of production also increases. This means that that people will buy less of that commodity due to the increase in its price (basic law of demand and supply ).