Global Econmonies In China In The Last Half-Century

Good Essays
In the last half century, China has experienced many changes. This includes economic changes, changes to Chinese culture and political changes. Thanks to many past leaders such as Deng Xiapong, China has achieved long periods of economic success and stability. This success has echoed through the world as other economies have benefited from it, Such as neighboring coutnries to China as well as other global econmonies that have invested in buiesness in China. However evne though China has succeedd in it’s in economy and consequently assited other econmonies in doing the same China has also hindered other global econmonies in the process. For example, in 2004 China took mexico’s palce of importing factory goods to the US. China’s econmony has not always beren so great as it recently has, former leaders such as Mao Zedong may have pushed the couty toward a brighter econmonic future but actually lead a goverbment that hindered the Chinese econmony. Overall in the past 60 years ,China has experienced many changes, such as their government,political sturcutre, and leaders. China has changed to communism off and on thorguhout the years but always has had some typeof a dictator. These leaders have greatly contributed to China, as they have used trade/exports, low wages and foreign investment to get China to become the 2nd biggest econmony it is today. Thanks to certain leaders of China, the Chinese economy has had periods of success and stability; however that has fluctuated thanks to the actions of other Chinese leaders. Mao Zedong was the laeder of China before Deg Xiapong. Mao started a revolution in order to overthrow the currwent goveremtn and “fix” Chiana. When Mao was successful he eventually showed he could not run a contry. One ... ... middle of paper ... ...3 about 12,000 of theses companies were created, their original intention was to serve as an introduction to business. However these companies were actually used for conduits for corrupt officials who were posing as private capitalist to gain large amounts of state assets. With wides roead corruption China had a full plate however they had another dish to add to it, inflation. Inlation was a problem faced by the Chinese econmony that, thanks to reforms and leaders,was able to be corrected. However it was until the mid1990’s that inflation stoped being a problem. Inflation decreased drastically from 1989 to 1990 to a tiny 2% and began to rise again in 1993 and reached a new high of 24.2% in the mid 1990's. The government again took action and reduced inflation to 14.8%, but until the middle of the 1990’s decade the inflation rate in Chinese cities was very high.
Get Access