The consumer-centric trading model has also helped China bring down the increasing currency exchange rates, which had caused great uproars in international financial domains, particularly during the recent economic recessions. It may be noted that the Chinese society espoused consumerism with regard to currency exchange rates, amendments in property ownership acts, and de-institutionalisation of political authority over various prefectures.
It is quite logical to state that such a shift in socio-economic spheres has not been an easy ride. The erstwhile communist austerity gave way to broader perspectives in all walks of life in China. Most notably, the emerging middle-class segment of the country has been able to find jobs in private sectors, but at the cost of state-owned jobs. This downsizing in state firms has implicit connection with the drooping economic conditions around the world. Standard societal structures in China have faced major challenges in sustaining the development programs the scope of which has been increasing everyday as the country is attracting more and more foreign direct investments in the economic upfront. Urbanization too has posed problems for the otherwise bureaucratic state mechanism to effectively control massive intra-country migrations (Lieberthal). Under these circumstances, China has been the center of global affairs, for better or worse, in the last few years. This paper is going to discuss the difficulties faced by the current Chinese leadership in dealing with issues of national interest. The study will also take into consideration how well the Chinese government is adept at handling such issues. Given the sheer geographical vastness of the land, it is quite apparent that the reformist means undertaken by the Chinese political regime face serious societal and economic challenges. Moreover, there is ...
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“State and Society in 20th Century China Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.net/miscellaneous/394250-state-and-society-in-20th-century-china.
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