The Economic Development Of China - 1420 Words

Since initiating market reforms in 1978, China has experienced enormous and rapid economic growth, become one of the world’s largest economies. The seeds of this rapid economic growth were planted in 1978 when the Chinese Communist Party started to introduce capitalist market principles. This was done by moving from a centrally planned to a market based economy. The shift away from traditional Marxist policy created a scarcely concealed capitalist culture in China masked by a communist facade. One can argue that with wealth comes a much higher level of education. The economic development in China has created a society that is better educated and paid. Citizens are developing much more politicized views and are more actively expressing their opinions. If the economic inequality caused by their current specialized private sector continues to grow, the citizens, now increasingly aware of their rights, will be less likely to accept the domination of the state. Finally, due to the internet, the nationalism that has historically helped Communism to remain the dominant ideology in China is decreasing. Younger generations are experiencing a culture shift that favours a more democratic lifestyle. Globalization and the growing entry into foreign markets will create pressure for China to abandon their communist political self-identity, transitioning instead towards democracy. When communism was first implemented in China, Mao depended on isolation to make it work. China’s recentlyShow MoreRelatedThe Economic Development Of China1130 Words   |  5 Pagesour strategy of export led industrialization and economic liberalization. We should recognize the success that China has had with export-led growth and want to emulate the policies that have enabled incredible economic development to occur in our neighbors to the north. Since 1991, we have taken great strides to modernize our country. But, there are still inefficiencies in our economy that need to be addres sed to ensure continued economic development. Theory behind export-led industrialization: Export-ledRead MoreChina s Economic Development Of China866 Words   |  4 PagesWith the economic development of China rapidly increasing, China has gradually attracted the attention from the worldwide publicity, state media reports, and it has become one of the important players in the international sphere. In general, economic development and growth has become one of the most significant factors for China’s successes. Historically, there are three main periods since the founding of China, which are after the establishment of the country, the period of the opening policy, andRead MoreChina - Economic Development Essay1381 Words   |  6 Pageslitter spotted throughout public areas may come to mind. 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It is among the countries that has modern housing, cars, communication gadgets, fashion and medicine. However, this development also describes the progressive growth of hard drug usage and addiction. In a span of approximately 25 years, the presence of narcotics and illegal drugs was unheardRead MoreChina s Impact On Economic Development Essay2487 Words   |  10 PagesChina is one of the most talked about countries in the world today. There are many reasons for this, but first one of the most obvious would be the recent incline in economic development. Since the early 1900’s China has expanded its economy to record highs. This economic boom is driven off of the countries build up of product driven economics. Many of the products are wide ranging, but of the jobs and exports have been created from the recent technology boom. The economy in China is also drivenRead MoreChina s Economic Development And Macroeconomic Policies2322 Words   |  10 PagesChina’s economic development and macroeconomic policies in 2013-2014 Economics for Global Business – Written Assignment Regent’s University of London Written by: Fabian Leonardo Cabrera Martinez and Marko Bakovic Date: March 22nd 2015 Module teacher: Karuna Gomane â€Æ' Contents page Introduction 3 China’s economic development during 2013 4 China’s economic development during 2014 6 Conclusion 9 Reference list 10 Figures page Figure 1 – Retail sales of consumer goods 4 Figure 2 - TrendRead MoreFinancial Development and Economic Growth: Evidence from China9260 Words   |  38 PagesChina Economic Review 17 (2006) 395 – 411 Financial development and economic growth: Evidence from China Qi LIANG a,b,*, Jian-Zhou TENG c,d b Department of Finance, School of Economics, Nankai University, Tianjin, 300071, China Graduate School of Commerce and Management, Hitotsubashi University, Kunitachi, 186-8601 Tokyo, Japan c Graduate School of Economics, Hitotsubashi University, Kunitachi, 186-8601 Tokyo, Japan d School of Mathematics and Statistics, Northeast Normal University, ChangchunRead MoreEconomic Growth And Development Of The Asian Nics, India, China3035 Words   |  13 PagesNations and its subsidiaries, with the one central point of discussion – economic growth and development of the â€Å"poor† countries. The past few decades have witnessed major ups and downs in the economies. While some countries have experienced shrinking incomes (Zambian per capita income figures in early 1990’s as compared to 1960s (Easterly, 2002, p.42)), some have experienced a substantial increase (East Asian NICs, India, China, etc). The debates on why some countries are poor while some are significantly