There is only one option for banking in China, the state-run, bureaucratic system. This monopoly system does not allow for anyone but the already wealthy to borrow from their coffers. This banking system shows the state's disinterest in developing the poorer areas of the country by their investment in only the wealthy segments of the country (Qinglian).
3. Individual debt ties in to the choice for second place among the factors slowing down the further development of China. With the only banks as state-run institutions that are disinterested in assisting customers in the rural areas of the country, they are effectively keeping those citizens in poorer circumstances. The vast national debt of the country is also a cause for major concern. China is trillions of yuan in debt and continues to borrow from other countries, allowing companies in Switzerland, the United States, and others to become predominant fixtures in the Asian country (Qinglian). International companies see the debt of Chinese owned companies as a way to move into the financial market in Asia. International companies are slowly taking over the Chinese market.
The Chinese government keeps those areas at bay by not allowing for much developmental growth by keeping the families that are already residents in their place and by also not allowing an influx of funds to these rural areas that would assist in economic growth and the further development of the country.
5. The political instability in China stems from the large amount of international interest in the country. Many of the corporations taking root in the cities are not Chinese-based organizations, allowing for the westernization of these areas of the country. In an effort to compensate for this, the Chinese government is keeping their traditional regulations in place over the rural segments of the country, even though they have de-regulated the cities which have received the highest international attention (Yao). In this way, the Chinese government is fighting international corporations for control over their own country.
6. China is seeing a large amount internationalization not only of the companies decorating the concrete landscape of the cities, but also in their export products. Many international companies outsource manufacturing work to China because of cheap labor. The export industry is a major force in the Chinese economy. The major exports of the country lie in the technology manufactured in China and sent to other parts of the world, including cell phones, computers, and other various electronic paraphernalia (Workman). Export is a main source of revenue for the country which causes financial problems for China with the current global economic slowdown.
1. Export growth has given the development of China a