The Fall of The Orient. Zhiwu Chen, a professor of Finance at Yale School of Management, had once addressed two pivotal questions to the world: “Why has China’s economy grown at such a fast rate during the last 30 years, and is this growth rate sustainable?” Over the past decades, China’s uprising as a huge economy power was undeniably prominent, first in Asia and then to the eyes of the world. The most popular answer as the world knows it is because China has “vast and cheap labors”, but that is not necessarily true. The idea of China’s development has been supported not only by huge labor force. Instead, it was also driven by all the changes that happen in the world, which allowed China to gain from its labor force, and also improvement in technological developments, and social reformations (Hayat). China has developed at a relatively high speed as compared to the rest of the world due to the change in manufacturing order. The global textile manufacturing, which was once so synonym with the West, had moved multiple times from England to United States, due to series of events known as ‘Cotton Famine’. The textile industry then moved to Japan and China, as they were key players in the textile market (Biselli). It was this change of textile manufacturing power, combined with the huge labor force that China has that allowed dramatic growth of economy in China, as a starting point (Hayat). Industrialization, as discussed in Horan’s lecture, was a stepping stone in Japan and China’s major development as an economic prowess that breaks the international barriers in trade that they once had, which also provided some strong backbone supports to their developments. Next, the second key aspect in why China has grown so large is th... ... middle of paper ... ...ina falls down someday, it would only mean a temporary break from the industry, as we have already seen how successful China has become now on its own. References. "Economic Suicide Biggest Threat to China - OP-ED - Globaltimes.cn."Globaltimes. N.p., n.d. Web. 04 May 2014. "Labor Force, Total." The World Bank. N.p., n.d. Web. 04 May 2014. Biselli, Marco. China's Role in Global Textile Industry. Www.ceibs.edu. CEIBS, n.d. Web. 03 May 2014. Hu, Zuliu. "Why Is China Growing So Fast?" Economic Issues 8. N.p., n.d. Web. 03 May 2014. Dixon, Hugo. "How Fast Can China Grow?" Breakingviews RSS. Reuters, n.d. Web. 3 May 2014. Hayat, Usman. "What Explains China’s Economic Growth, And Is It Sustainable?"Enterpising Investor. CFA Institute, n.d. Web. 3 May 2014. Horan, Joseph. “Paradox of Development”. Human System. Marquez Hall, Golden. Lecture.
Imperialism began with Western European countries looking to expand their reach of influence on the East. These countries would conquer and colonize any region not of the West in hopes of bettering their economy or to help the native people they found in the East, carry up the “The White Man’s Burden.” When meeting the native people, Westerners named the things from the East “Orient,” and along with this name came many stereotypes and assumptions of the people and the land. Although, imperialism is no longer present, effects such as orientalism still resonates within the culture being expressed through media such as the Academy Award winning movie of the year Argo.
...ustrial manufacture. Others created industries ancillary to ongoing textile industrialization, such as bobbin mills and foundries.
Historically, successful civilizations have tended to have constant economic growth. The civilization of China was not successful in the nineteenth century because it had a declining economy, while the civilization of Japan was successful in the same time period because it had a economic growth. As a result China was unable to focus on other key areas such as medical and technological advancements, native culture, and military conquests. Japan’s growing economy enabled it to innovate, grow their culture, and attain military power, all of which are measures of success. China was unable to grow socially and politically because they did not have 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.
China’s trade with the world grew substantially in the first three decades of the 20th century, marking a historic time for the country. In the 1840s, the Chinese economy was strongly closed; however, when Great Britain and other powerful countries pressured their economy, China was willing to open international trade within their own economy. Over the next 60 years, China experienced a small opening of trade amongst other foreign powers, allowing transactions amongst foreigners allowed. The funded railroad aroused industrialization, as well as publicity and overseas shipping (Yan, 2014). The main reason for moderation in China is because they are so much more focused on production rather than consumption. Last year, China’s consumption accounted for 35 percent of their economy; a little over 10 years ago, it was rated that 50 percent accounted for their overall consumption (Reich, 2010). Foreign exports and imports arose dramatically, increasing the yearly expansion rate of trade to about 7.4 percent. The Chinese economies share in world trade grew a little under 2 percent from the late 1800s to the mid 1900s. By the early 20th century, comparative advantage was presented all throughout their economy (Yan, 2014).
The Industrial Revolution was a time in where machines were making great changes in people's’ lives. Making threads were easier to make with the spinning jenny, clothes were being made faster than in a blink of an eye. Machines were being spread throughout the globe in which for some countries were good and for some were bad. The Japanese borrowed many ideas from but in a country like Japan silk and other clothes goods were needed and making Japan very rich in connections with other countries and money. The idea of the machines were very revolutionary for the Japanese, especially since silk needed a long process to make into threads. But there was some costs in employing workers for these factories and some benefits for the employees who were
In States vs. Markets, Herman Schwartz presents two economic development strategies that have been employed by late industrial developers in order to either take advantage of existing comparative advantages or facilitate rapid industrial growth through state intervention and provision in order to gain a competitive foothold in world markets. Schwartz demonstrates how China was able to employ elements of these development strategies to generate capital from an abundant rural labour supply in order to pursue industrial development and attract foreign investment through economic reform starting in the late 1970's.
In the course of history, both Japan and England has made significance success in world military and economy. The two island nations (Document A) experienced an industrial revolution and became the economic giant respectively in the 19th century and the 20th century (DBQ 218). As a saying goes that Science and technology constitute the primary productive force. The industrial revolution also brought great changes to textile industry
In the article review “ How the West was Lost” the author, William T. Hagan explains that in a brief thirty-eight year period between 1848 and 1886, the Indians of the Western United States lost their fight with the United States to keep their lands. While nothing in the article tells us who Hagan is, or when the article was written, his central theme of the article is to inform us of how the Indians lost their lands to the white settlers. I found three main ideas in the article that I feel that Hagan was trying to get across to us. Hagan put these events geographically and chronologically in order first by Plains Indians, then by the Western Indians.
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.
Although there are many other important factors, the main cause of the rise of imperialism was most certainly economic. The Age of Empire, by Eric J. Hobsbawn, provides an interpretation of New Imperialism. Hobsbawn calls imperialism “a natural by-product of the international economy” (Sherman pg 177). He is basically saying that imperialism is dependent on the rivalries of competing industries, which continually drive the international economy. Hobsbawn also dictates the need for external markets. The Industrial Revolution created many products that needed markets, thus creating a need of colonies. Hobsbawn believed that the overproduction of the Industrial Revolution and the Great Depression could be solved. He also realized that many businessmen knew that they could make a large profit off of China’s large population. For example, if every one of the three hundred million Chinese purchased one box of tin-tacks the businessmen knew that there would be a huge profit, consequently increasing the desire for colonization of weaker countries.
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.
...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.