China's development is praised by the whole world. Its developments are not only in the economic aspect, but as well in its foreign affairs. Compared with other developed countries, China is a relatively young country. It began constructing itself in 1949. After 30 years of growth, company ownership had experienced unprecedented changes. Entirely, non-state-owned companies can now be more involved in sectors that used to be monopolized by state-owned companies. Its phenomenal success is because it developed some suitable public policies, which were the perfect fit for the situation in China. In the last few years, China has had a remarkable economic development and has come to play an increasingly significant role in our world economy. When the new Chinese Government was set up in 1949, the new government faced a lot of problems. First on their agenda was how to re-build the country. As Communist Party of China (CPC) is a socialist party, their policies at the time were similar to that of the Soviet Union’s. Consequently, the CPC used a centrally planned strategy as its economic strategy when it first began. For a long time, the Chinese economy was a centrally planned economy in which none other than the state owned all companies. In fact, there were absolutely no entrepreneurs. As time went on, the problems of a centrally planned economy started to appear, such as low productivity, which was the key reason for restricting the development of China. With the population growing, the limitations of the centrally planned economy were clear. In 1978 China started its economic reform whose goal was to generate sufficient surplus value to finance the modernization of the Chinese economy. In the beginning, in the late 1970s and early 19... ... middle of paper ... ...ks Cited China.org.cn (2009) 1981: Dual-track Price System, http://www.china.org.cn/features/60years/2009-09/16/content_18534471.htm China's Special Economic Zones." China's Special Economic Zones. Dept. of Global Studies & Geography , Hofstra University, New York, USA, 1998. Web. 18 Nov. 2013. HU, Vicky (2005). «The Chinese Economic of HD Biosciences Co.». In: X Jornada d’Economia de Caixa Manresa (2005: Manresa) [article on line]. Caixa Manresa. [date of consulting: dd/mm/yy]. Naughton, B (2007) The Chinese Economy: Transitions and Growth, Cambridge, Massachusetts: MIT Press Stoltenberg, Clyde D. "China's Special Economic Zones: Their Development and Prospects." Asian Survey. 6th ed. Vol. 24. Berkeley, CA: University of California., 1984. 637-52. JSTOR, 1984. Web. 16 Nov. 2013
Yeung, Y., Lee, J., & kee, G. (2009). China's Special Economic Zones at 30. Eurasian Geography and Economics , 50 (2), 222-240.
Sitting close to the edge of being a “developing” and a “developed” country, China is a difficult country to define neatly. It is a country with an ancient and traditional culture trying to position itself higher within the international community. Plus it is also a communist country that has come to embrace its own form of capitalism to fuel its economy. China’s economic boon has been beneficial to many people within the country. But not to all people within China evenly.
China’s success was first observed after it experienced a key change in the political and economic structure, when Deng, a pragmatic leader, came into power. He consolidated his power and began to put his realistic policies to work, in order to bring China back from the destruction that the Cultural Revolution had brought. Since 1978, China has begun to make major reforms to its economy. Political and social stability, economic productivity, and public and consumer welfare were considered paramount and indivisible.
If you input “China’s GDP” by using a Google search, the first result jumps into your eyes should be a chart presented by World Bank, which indicates how dramatically the economy has grown in China from 0.10 trillion dollars in the year 1960 to 5.93 trillion in 2010. As Professor Stephen S. Roach wrote in his article ‘10 reasons why China is different’, China’s economy has made a break-through indeed due to its tremendous changes and unremitting efforts among: “strategy, commitment, wherewithal to deliver, saving, rural-urban migration, consumption, services, foreign direct investment, education and innovation. ”（Stephen S. Roach ，10 reasons why china is different ）So many cases illustrated how China’s immense impacts not only in domestic but also on universe. By focusing on its worldwide influences, one evidential example in domestic was Lenovo purchased the giant IBM’s PC branch in the year 2005.
For the past twenty-five years, China has witnessed an overall increase in its domestic growth (Fischler 148). According to the article, “The Rise of China as a Global Power,” by Dr. Rosita Dellios, China “is the world's fourth largest trading nation, rising from 32nd in 1978 to 10th in 1997.” Similarly, China’s GDP is also second to the United States of America, generating 13 percent of the world’s output (Dellios). Since China’s introduction into the World Trade Organization in December 2001, its average tariff dropped from 41 percent in 1992 to 6 percent in 2001, becoming one of the most open economies in the world (Dellios). China is also the world’s fastest developing economy, obtaining an annual growth of 9.5 percent through foreign direct investment, low labor rates, emerging markets, and growth expansion. (Dellios). Therefore, the 21st century has been titled the “Chinese Century”, as China has become the second-largest international economy in the world (Ji-lin 15).
China is renowned for its nationalism and opposition to the West. It wasn’t until the 1970’s, when Deng Xiaoping allowed other countries into China, that they began their own globalization journey. Even after that huge leap forward, a mixed market economy with trade didn’t really materialize until the 1990’s. The former leader, Mao Zedong had instituted a communist rule. Under Mao’s rule, the people had no voice and no choice. Businesses, temples, school and medical care was governed by Mao. He ordered the destruction of many ancient temples and adorned the city with portraits of himself to serve as reminders to the citizens of his power. Jobs were assigned to those with the best capabilities and to what the government felt suited the individu...
To support the counterargument that China is not an economic threat to Asian stability I will demonstrate how China is experiencing the same economic prosperity and drawbacks as any other Asian state. Case in point, due to surging energy prices, there are increased transportation costs for moving goods from one place to another and the difficulties of a scattered supply chain are encouraging some Chinese firms that had previously outsourced components to Southeast Asia to relocate their associated research-and-development and operational activities within China to other Asian states. Therefore, processing-related imports have declined from over 40 percent of China’s total impor...
China has been epic in transformation through a combined pragmatic kind of thinking and increased adaptation of institutions. It has been successful in its social and economic systems reform. This started from a relatively small planned economy to being the world’s second largest national economy. The financial success through the revolution regimes, which included Mao and Deng Xiaoping’s eras gradually, steered the nation to a center of international politics and global governance. Even though these leaders had promised to create a rich and prosperous society, the country encountered unprecedented governance complications and challenges. Mao’s era has a lot of similarities such as; Marxism was celebrated and perceived as the way of life in
In the case of China, the cause of a robust economy might not match, or even be synonymous with, the causes of political and social change; especially since the effects have not yet reached their full potential. However, there is some contrasts
From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.
Hoobler, Dorothy, Thomas Hoobler, and Michael Kort, comps. China: Regional Studies Series. Upper Saddle River, New Jersey: Globe Fearon, 1993. 174-177.
The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.
This essay has critically analysed and examined the effect of Communism on the Chinese Society during the period of 1946-1964. The overall conclusion that can be drawn is that the Chinese Communist Party managed to defeat the Kuomintang (Nationalist) Party and achieve victory in the Civil War, in spite of alienation by the Soviet Union and opposition from the U.S. This was primarily because of the superior military strategy employed by the Communists and the economic and political reforms introduced by this party which brought more equality to the peasants in the form of land ownership and better public services. This increased China’s production and manufacturing which not only boosted the country’s economy but also provided a more sustainable supply of food, goods and services for the Chinese people.
...st and stand in the world. It is predicted that China will one day be the largest economy growing country in world. They continually growing and rebalancing their world to be the best. The growth of economy will depend on the Chinese government comprehensive economic reforms that more quickly accelerate in China transition to a free market economy. The consumer demand, rather than exporting the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental. (Morrison, 2014,para2)
China has changed dramatically over the past hundred years. It was once a fractured state, stuck, living in the past. Since then, China has evolved into a politically stable and economically powerful modern nation. Mao Zedong led the Communist party in China. Although many things that Mao did were not good, his efforts helped make China into the nation that it is today.