Romeo Ardimento 9745 7U AP Comparative Government Mr. Polazzo Pd. 7
Mini-Paper 2: Chinese Economy vs. Russian Economy
China is a communist nation and Russia is a formerly communist one. Both countries have undergone major economic reform over the years, however the results have been markedly different for each nation. China's Growth Domestic Product is sky rocketing at a rate of 7.8% annual change per year and managed a GDP of 8.227 trillion USD in 2012. (Due to China's enormous population (1.351 billion), however, China's per capita income is below the world average (6,091.01 USD). Russia on the other hand is a huge country with not that many people (143.5 million) and provides only about 3% of the global GDP. Russia only had a GDP of 2.015 trillion USD in 2012, roughly equivalent to that of Italy (2.013 trillion USD). Russia's GDP has had an average annual change per year of 3.9% from 1996 until 2012 and was hit hard by the global recession of 2009. Obviously, China has had much greater economic success over roughly the last quarter-century and has become a more prosperous nation. The reasons for which are discussed below.
Under Mao China based its political and economic entities on those of the Soviet Union. However, following his death the emphasis on centralized planning and collectivized agriculture was lifted by the reform agenda designed by Deng Xiaopeng. Deng wanted to make China's economy a global one by expanding global exchange and trade. Initially China maintained state control of the economy, however allowed market characteristics to develop in smaller enterprises. It is crucial to note that China implemented these changes gradually and avoided the dangers of a transition economy. In the 1990s the economy became ...
... middle of paper ...
... The Russian economy may be flawed, but Russia can boast of great natural resources.
Russia became the world's leading oil producer in 2011, it is the world's second-largest producer of natural gas (Russia has the most reserves), and exports many valuable metals. Unfortunately, the economy is very dependent on these resources and is thus very vulnerable. The situation occurring in the Ukraine right now will probably not help Russia's economy.
All in all, it is evident that a lot can be gathered by comparing the economies/governments of Russia and China. China benefited a lot by making deliberate, yet gradual changes in respect to the economy. Russia on the other hand was greatly harmed by a rapid transformation. It will be interesting to see if China's GDP will surpass that of the United States and what will happen to Russia's economy in the years to come.
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.
With the fall of the pro-Russian government Russia had lost basically a very important ally to the European Union and NATO. President Vladimir Putin took a great risk and invaded Crimea that resulted in strong reactions from the West. Even Russia’s closest allies supported the territorial integrity of Ukraine.
Since its publication in 1925, The Great Gatsby has remained a spot-on representation of a time in American history in which the people believed anything was possible. Gatsby is the definition of this idea. The underlying cause of everything in this novel is his--and in essence everyone’s idea. This idea is the ubiquitous notion of the American Dream. And Fitzgerald does not only write about the American Dream, but about its corruption as well. This following quote truly epitomizes what the American Dream had become in the eyes of Fitzgerald:
The introduction of communism in China continued to have a large disparity in wealth and powe...
China's transition from the leadership under the iron fist of Mao Zedong to the more liberal Deng Xiao Ping gave the People's Republic a gradual increase in economic freedom while maintaining political stability. During Mao's regime, the country focused on bolstering and serving the community, while subsequently encumbering individual growth and prosperity. Deng advocated a more capitalist economic ideology, which established China as an economic force in the global community while endowing its citizens with more liberties and luxuries than previously granted.
Mongol rule influenced both Russia and China in different ways but also in similar ways. China became a major trade network with the re-opening of the Silk Road, bringing cultural interactions. Russia however remained isolated but still improved their economy, however not on a global scale like China. Politically, the Mongols ruled China and Russia in different ways as Russia had more political freedom than China. However, the Mongols had a huge impact on the world as they had one of the best militaries and largest empires in the world stretching from the Middle East, parts of India, and to Europe.
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.
Russia, a vast country with a wealth of natural resources, a well, educated population, and diverse industrial base, continues to experience, formidable difficulties in moving from its old centrally planned economy to a modern market economy. President Yeltsin's government has made substantial strides in converting to a market economy since launching its economic reform program in January 1992 by freeing nearly all prices, slashing defense spending, eliminating the old centralized distribution system, completing an ambitious voucher privatization program, establishing private financial institutions, and decentralizing trade. Russia, however, has made little progress in a number of key areas that are needed to provide a solid foundation for the transition to a market economy. Russia, spanning 11 time zones and serving as home to about 150 million people, possesses tremendous natural and human resources. Demand today for imported consumer goods, capital equipment, and services remains remarkably strong, with imports representing an unusually large percentage of the national market.
With the opinion of the American people becoming more allowing of low-level drug use, and the successful monetary generation in states like Colorado, we are now seeing viable alternatives to spending billions of dollars in failed efforts to restrict drug use, unfair imprisonment of minorities, and a dependence of drug users on violent cartels. The opinions of society is ever-changing, and this will certainly have an effect on our drug laws an policies. It is apparent that the negative stigma surrounding recreational drug use -at least with marijuana- is slowly diminishing.
The Soviet Union, which was once a world superpower in the 19th century saw itself in chaos going into the 20th century. These chaoses were marked by the new ideas brought in by the new leaders who had emerged eventually into power. Almost every aspect of the Soviet Union was crumbling at this period both politically and socially, as well as the economy. There were underlying reasons for the collapse of communism in the Soviet Union and eventually Eastern Europe. The economy is the most significant aspect of every government. The soviet economy was highly centralized with a “command economy” (p.1. fsmitha.com), which had been broken down due to its complexity and centrally controlled with corruption involved in it. A strong government needs a strong economy to maintain its power and influence, but in this case the economic planning of the Soviet Union was just not working, which had an influence in other communist nations in Eastern Europe as they declined to collapse.
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.
Even with Russia’s vast amount of land only, a small percentage can produce crops, as the rainfall is inconsistent and the northern tundra are not able to support growth. None the less fishing industry, livestock, and grain have been a staple for feeding the Russian people. Due to this family close, and extended have banded together to take care of each other on a larger scale. Another issue Russia faces is the rise of insurgency and could potentially destabilize the region, by Islamist. There is also the unrest and intervention in the Ukraine. Civil consideration
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...
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.
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.