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Economic development of china
Chinese economy 1950
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The economic rise of China during the past few years has had the greatest influence on my thinking, especially in respect to economics, finance, my personal values and social responsibility.
I was born in Shanghai in the early 1980s when China’s economic reform just began and the nation opened its doors to the outside world. I can still recall the relatively low living standards during my childhood: televisions and vehicles were rare; people seldom dined out; a majority of commuters were on bicycles – there were no subways or highways, even in the biggest city in China. However, since then, the national economy started to bloom, along with the modernization of agriculture, industry, science and technology. From the first underground subway line to the first stock traded on the Shanghai Stock Exchange, I witnessed tremendous economic advancement while living in Shanghai. Meanwhile, people seemed to get increasingly enthusiastic about making more money, from starting up businesses to trading stocks. Back then, I believed that economic growth only meant a more comfortable life and a more developed society. In high school, I began to pay attention to some economic indicators, such as GDP, as well as the stock market in order to keep up-to-date on the progression of people’s living standards nationwide along with the growth in our wealth.
Since I moved to the U.S. after college, I have been keeping a close watch on my home country through both the Chinese and Western media, such as Xinhua News and Bloomberg. The growth appeared to be even more rapid with close to double digit GDP increases during the past few years. However, while a lot of people were getting wealthier, more and more social problems, such as environmental pol...
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...nal values, I became more dedicated to my community. As a tutor at TutorChatLive.org, a non-profit education organization, not only do I work one-on-one with students that need assistance with various subjects, like math and economics, but I also collaborate with other online tutors for solutions to students’ questions. Additionally, I have been serving as a volunteer for Asbury at Drexel to help prepare meals for home-bound persons living with life-threatening illnesses. I felt a deep sense of inner gratitude as I directly witnessed the positive impact of my endeavors on others and my community.
Over the long term, I would like to integrate my thinking into my career and future ventures to encourage greater social consciousness and more ethical endeavors in China. Through these efforts, I am hoping to live my utmost personal value by yielding social impact.
economy and way of life. Young Chinese aren’t sure which way to go. Pick the
China's Economy and Society in the Late 1940's and 1950's. In 1945, the war with Japan ended. It left China's economy and society in a ruins. The country is divided into two.
In the early years of China, the Chinese began a period of establishment in the world with ideas and teachings of new religions, changing powers, and building empires. In a nutshell the Chinese were progressing toward new technology, writings, and belief systems. The Chinese saw many dynasties come and go as well as many ups and downs experienced with societies over the course of history. As all nation’s go through change, the Chinese experienced changes from other lands far away and produced many concepts in which helped other realms to see change for themselves. The Chinese used many inventive innovations to prosper as an economic power and stabilize intellectually. Change mixed with innovation proved to be the roots of China’s success as a powerful nation to be reckoned with for the vast numbers appeared in China’s favor.
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 ...
China has come a very long way in the past 25 years. China has grown at nearly 10 percent a year over the past 20 years. China's explosion on to the world investment, production and trade scene is the product of its size, growth and openness. This is leading to tremendous changes in the global economy.
by a world power can be felt by practically every nation of the globe involved
Beyond the depths of Communism, and governmental control the modern Chinese consumer has accessibility to earn higher incomes, provide for their families, enjoy leisure and have amenities that were once rare in a country that was once rural land. Now, with technological advancements and modernization of cities the Chinese consumer is able to live a lifestyle of luxury unlike the past, where luxury was once only possessed by those who were rich.
“While there is significant variation across regions, within the cities and within the rural areas, the most significant inequality is between the urban and the rural” (Saich, 2011:316).
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.
“Philips, Sony, and Toyota factories are popping up all over—to the self congratulatory applause of the nation’s governors and mayors, who have lured them with promises of tax abatements and new sewers, among other amenities.” (Paragraph 17) People are born into their jobs, and are doomed for their economic boats. IN other countries such as China, it has been proven that the families with the moneys are the ones with the money, are the ones with the economic power. “Many wealthy Chinese and western residents moved their money abroad and some actually left the colony. By 1971, the Cultural Revolution in China had ended in failure and conditions in Hong Kong calmed,” (Lannom) such as Gloria Lannom states, yet it took a while for Hong Kong to rebuild its economic standings because of this
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.
Wei-Wei Zhang. (2004). The Implications of the Rise of China. Foresight, Vol. 6 Iss: 4, P. 223 – 226.
...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)
In the race to be the best, China is clearly outperforming the United States. China has strong economic fundamentals¬ such as “a high savings rate, huge labor pool, and powerful work ethic” (Rachman, Gideon. "Think Again: American Decline). Their economy has grown an astonishing 9-10% over the past thirty years; almost double of what it used to be decades ago. China is also the “world’s greatest manufacturer and its greatest market” (Rachman). The continuing growth of China's economy is a source of concern for not only the U.S. but surrounding nations as well. One could argue that the U.S. need not worry about China’s growth because of the spread of globalization and that western ideologies would influence China to turn to democracy. Yet China has still managed to “incorporate censorship and one party rule with continuing economic success” (Rachman) and remains a communist country. Hypothetically, even if China does resort to a democratic state, this does not gua...
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.