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The benefits and drawbacks of capitalism
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Since implementing capitalistic reforms in the 1970s, the gross domestic product of China has risen by an average of 9.5 percent each year. This growth is expected to continue at this breakneck pace, and China is estimated to overtake the United States as the world’s largest economy by 2026 (Ding 6). This influx in wealth has catalyzed advancements in Chinese technology, has enabled better access to education for millions of people, and has increased the overall standard of living for over a billion people. However, Capitalism has brought with it drawbacks for both the Chinese people and the nation as a whole. The Chinese people still lack many basic freedoms, worker’s rights are often abused, government corruption is rampant, and the environment is being damaged more than before. As capitalism has provided both advantages and drawbacks, one might wonder if capitalism having an overall positive effect on China.
To better understand the current influence capitalism has in China, it is necessary to have both a basic knowledge of the communist system which preceded it, as well as an understanding of the nature of Chinese economic reform, which began in 1978. In 1949, Mao Zedong, the leader of the Communist Party in China, defeated his longtime rival Chiang Kai-shek, and established the People’s Republic of China. Upon seizing power, Mao began to rebuild China, a country devastated by both a Civil War and the Second World War. Mao’s first major policy was The Great Leap Forward, which forced both collective farming and rapid industrialization. Mao’s second major policy was the Cultural Revolution, which sought to promote communism within China and remove any foreign ideological influence. Both policies were horribly unsuccessful,...
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Yeung, Henry Wai-Chung. Chinese Capitalism in a Global Era: Towards Hybrid Capitalism. New York: Routledge, 2004. Questia School. Web. 28 Feb. 2014.
Following the Chinese Revolution of 1949, China’s economy was in ruin. The new leader, Mao Zedong, was responsible for pulling the economy out of the economic depression. The problems he faced included the low gross domestic product, high inflation, high unemployment, and high prices on goods. In order to solve these issues, Mao sought to follow a more Marxist model, similar to that of the Soviet Union. This was to use government intervention to develop industry in China. In Jan Wong’s Red China Blues, discusses Maoism and how Mao’s policies changed China’s economy for the worse. While some of Mao’s early domestic policies had some positive effects on China’s economy, many of his later policies caused China’s economy to regress.
Hann-Shuin, Yew. "The Rape Of Nanking: A Quest For Peace." Chinese American Forum 22.3 (2007): 3. MasterFILE Premier. Web. 2 Apr. 2014.
Schoenhals, Michael. China's Cultural Revolution, 1966-1969: Not a Dinner Party. Armonk, NY: M.E. Sharpe, 1996. Print.
Cheng, Pei-kai, Michael Elliot. Lestz, and Jonathan D. Spence. The Search for Modern China: A Documentary Collection. New York: Norton, 1999. Print.
One of China’s best successes has in turn been one of its biggest downfalls. One of the main problems is China’s greatest success which has been its phenomenal economic growth. This is one of the main drivers of the current environmental problems that the country faces. Factories dump pollutants into the air and water. It is difficult to see the Chinese government making the significant sacrifices required to improve their environment if it means slowing down their economic growth.
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.
Programs such as collectivization and land reformation were essentially a microcosm of Mao's impact on China. Under the policy of collectivization, the government promoted cooperative farming and redistributed the land on the principle that the product of labor could be better distributed if the la...
China’s economy is one very large indicator of its role in globalization. “In 2010 China became the world’s largest exporter” (CIA World Factbook). Without China many places such as the United States of America would be without billions of goods imported from China annually. An influx of companies moving their manufacturing to China has allowed people to flock to cities and find jobs. China’s economy has grown exponentially over the last few decades. In the last three years China’s economy has grown by nearly ten percent every year. Despite this influx of money to China it has also resulted in many drawbacks. For example, China’s environment has been obliterated. China burns more coal than every country in the world combined. Beijing has been so badly polluted that there are actually companies that sell cans of fresh air to people, and gas masks are a common sight. On January 12th 2013 Beijing’s air pollution reached a record setting 775 PPM. To put that into perspective, the scale for measuring pollution is 0-500 PPM. This set an all-time recorded high. In Los Angeles a high ...
Throughout, 1900- 1950 there were a number of changes and continuities in China. From the fall of the dynasties to the rise of the Communist Party, these changes shaped China’s government and society. Although, many political changes were made multiple continuities were held constant such as, consistent rebellions and the lack of democracy.
... This essay critically analyses and examines 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.
In the last few years China is quickly becoming the country that has stolen all of the jobs from the United States. Maybe there is something to be gained from looking at how the Chinese people do things and what they view as important. The Cultural Revolution that took place in China greatly changed how the Chinese do things. Starting in 1966 this revolution ended how “Old China” viewed and did things. Mao Zedong had a different plan for China, one that desired to take away the freedoms that Chinese had experienced in the years before (Nakate 1). After Zedong died the Chinese People were able to get back to what they had been before. “The modern Chinese culture is a blend of Communism, economic changes, and the old traditions of China” (Nakate 1). While I do not agree with Communism, other things that China has been doing for so long seem to be working. Maybe it is just because the people are so oppressed that they do not know any better. History is something that needs to be considered when looking at the culture of the Chinese. “Consider the past and you will know the present” (Samover 82). This Chinese Proverb clearly states that if one would want to know what the present is like then they need to look at the past. In other words a culture is defined by its history. The Chinese people have a market driven economy which has helped them to become one of the superpowers in the world. They have become a major player on the world stage, which is indicated by the fact that China’s GDP is was the third largest in 2007, and I imagine it may have moved up since then (Samover 84). The fact that they have become so powerful, in light of their Communist background, is probably the driving factor in the dislike tha...
Witt, M. A. (2010). China: what variety of capitalism. Insead Business School. [03 April 2014] 34. Yu, N. (2012).
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...
Mao resigned as president of the Peoples Republic of China (PRC) in April 1959 , after the Great Leap Forward, planning for Chinese production to “overtake Britain in 15 years”, failed and caused a widespread famine in China, where 20-30 million people starved. President Liu and General Secretary Deng began to restore China , while Mao remained ceremonial head of the Chinese Communist Party (CCP). Liu and Deng introduced many liberal and effective policies , which involved stepping back from communist ideals. Collectivisation and communal cafeterias were abandoned and peasants recommenced private, “capitalist” farming. They even rehabi...
Finally, the United States political system has a strong structural structure but in China their people always work together to be the best and stand out in the world. It is predicted that China will one day be the largest economy-growing country in the world. They continually grow and rebalance their world to be the best. The growth of the economy will depend on the Chinese government's comprehensive economic reforms that more quickly accelerate China's transition to a free market economy. Consumer demand, rather than exporting, is the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection.