d
enterprises, migrants, and new entrants to the work force; (b)
reduce corruption and other economic crimes; and (c) contain
environmental damage and social strife related to the economy's
rapid transformation. From 100 to 150 million surplus rural workers
are adrift between the villages and the cities, many subsisting
through part-time, low-paying jobs. One demographic consequence of
the "one child" policy is that China is now one of the most rapidly
aging countries in the world. Another long-term threat to growth is
the deterioration in the environment - notably air pollution, soil
erosion, and the steady fall of the water table, especially in the
north. China continues to lose arable land because of erosion and
economic development. China has benefited from a huge expansion in
computer Internet use, with more than 100 million users at the end
of 2005. Foreign investment remains a strong element in China's
remarkable expansion in world trade and has been an important factor
in the growth of urban jobs. In July 2005, China revalued its
currency by 2.1% against the US dollar and moved to an exchange rate
system that references a basket of currencies. In 2006 China had the
largest current account surplus - nearly $180 billion - in the
world. More power generating capacity came on line in 2006 as large
scale investments were completed. Thirteen years in construction at
a cost of $24 billion, the immense Three Gorges Dam across the
Yangtze River was essentially completed in 2006 and will
revolutionize electrification and flood control in the area. The
11th Five-Year Program (2006-10), approved by the National People's
Congress in March 2006, calls for a 20% reduction in energy
consumption per unit of GDP by 2010 and an estimated 45% increase in
GDP by 2010. The plan states that conserving resources and
protecting the environment are basic goals, but it lacks details on
the policies and reforms necessary to achieve these goals.

Christmas Island
Phosphate mining had been the only significant
economic activity, but in December 1987 the Australian Government
closed the mine. In 1991, the mine was reopened. With the support of
the government, a $34 million casino opened in 1993. The casino
closed in 1998. The Australian Government in 2001 agreed to support
the creation of a commercial space-launching site on the island,
projected to begin operations i