Economic Reform of China

College
Essay
Miscellaneous
Pages 5 (1255 words)
Download 0
For the success of economy, China is an example for many countries. The revolution in the economy of china will turn it into world's largest economy. This revolution starts from Shenzhen which was a farming village. Shenzhen transformed into an industrial center of 3 million workers…

Introduction

This leads to economic growth of 10% annually. By adopting a mixed economy China is leading successfully. The Government of china has retain strong control over investments and allowed a limited private competition. This results in removing the deficiencies of capitalism and communism.
Those countries which follow free trade and non liberal path, dominates the economy like China. The China's success proof is its GDP statistics. Since 1978, the GDP has been double digits. However this progress has lead to number of challenges China is facing nowadays. These are financial crisis world wide, incompetent banking system, over reliance on exports, inflationary pressures, widening income inequalities etc. In order to create a harmonious society, China Government has to over come these issues. Furthermore trade and foreign investment plays a dramatic role in this revolution. The trade of goods has double so far. Large trade surplus, direct flow of foreign investments and heavy purchases of foreign currency makes China the biggest foreign currency reservoir holder.
Two factors contributed tremendously to the growth of economy in China. One is Heavy Capital investment either by domestic savings or by foreign investments. And second factor is quick yield growth. This revolution leads higher effectiveness which improves the output. The result is increased resources for extra investments in the economy. ...
Download paper
Not exactly what you need?

Related papers

Economic Policy of China
The two way trade in China has grown faster than it's GDP for the last quarter of the century. (Ken Davies, 2000)…
Economic growth in China and its impact on American economy
The Golden Age of the China started soon after its amalgamation with World Trade Organization. The membership of World trade Organization has been of economic and industrial benefits for the country. Secondly, the normalization of the Communist China's diplomatic relationship with United States, have further boosted the momentum of Chinese economic activities. These two events are important…
Economic Reform of China
This leads to economic growth of 10% annually. By adopting a mixed economy China is leading successfully. The Government of china has retain strong control over investments and allowed a limited private competition. This results in removing the deficiencies of capitalism and communism.…
China
Democracy was never followed in Peoples Republic of China (PRC), be it the Chinese media or press, all were owned by the Chinese government. And the most annoying dilemma to which U.S was confronted since the beginning of Chinese independence was the failure of U.S government to introduce political reforms in China. Since the beginning, U.S was interested in bringing democracy to China, to which…
Taiwan-China Economic Relations
Even the growth that is boosted by the economic affiliation does not reduce the threats and political confrontation between these two countries.…
Economic Relations between Korea and China
For centuries, China stood as a leading country, easily outpacing other countries in the arts and sciences. In the 19th century and early 20th centuries, however, China was overwhelmed by civil unrest, major famines, military defeats, and foreign occupation. It seemed like China would never catch up with the Western developed countries economically, but after the 1978 reform period, Deng Xiaoping,…
China Essay
This started a continuing era of growth that is assessed periodically. Although the country strives for the economic growth there are factors that limit China's full economic growth. One factor that can be considered as the most influential cause of this state is the lack for political reform. Achieving the results that are aimed for such as the rapid economic growth requires the interplay of the…