Australia And China Economic Growth And Quality Of Life, Employment, And Unemployment, Distribution Of Income And Essay

The Chinese and Australia economies have many similarities and differences, including the size of the economies, growth rates, unemployment, inequality, standard of living, environmental issues and the roles the different governments have in influencing and modifying these factors of the economy.

China has, for a sustained period of time, been one of Australia's most important trade and economic partners. But this has not always been the case. Since the late 1970s China has moved from a closed, internal focused economy to more of a global market oriented one that plays a major part in other nations economies, like Australia's. Although China is technically a Socialist nation, market capitalism is actively encouraged, much the same as in Australia. In 2010 China became the world's largest exporter, with exports ranging from natural resources to manufactured goods. (CIA-World fact book) Australia's economy, in this sense, differs from that of China's. As Australia is simply too expensive to manufacture goods ("Holden, Ford,

Australia and China adopt very different economic systems in order to cater the best for their society. However, Australia's economic system is more successful than China's and, due to the writer's right-wing value system, will be measured in terms of environmental efficiency, labour and entrepreneurial resource efficiency and the standard of living.

Deng Xiaoping began market-orientated reforms and opened the economy. The incomes of the poorer residents of china are on the increase, however the wealthier residents are still getting wealthier and much faster. Income inequality has risen at a faster pace than that of the United States according to the Gini coefficient. The income inequality is rapidly growing and is still at a very high level.

Since the market orientated economic reforms were introduced in 1978 (Khan, Hu (1997, P103) China’s economy has seen a 10% increase in Gross Domestic Product (GDP) Per year (Vincellete, Manoel,

Since the reform and opening up, the economy of China grows significantly, as an emerging economy, China's economy has made tremendous contributions to the global economy, and Renminbi has become one of the most important currency in the world. According to the survey conducted by China National Bureau of Statistics found that from 1979 to 2012, China has attained an annual average growth rate of 9.8% for its national economy, while the annual average growth of the world economy is only 2.8 % during the same period. In past 30 years, China's GDP surpassed Japan’s, China became the world 's second largest economy, in addition, the huge total volume of trade makes China become the world 's largest trading nation. The contribution of China’s

This document shows how living conditions and independence did not improve for landowners. Landowners only lost their land and homes. It wasn’t fair how low classes were able to make more money when landowners couldn’t have better living conditions. Document 9 by an unknown person who was an economist made a line graph for people interested in China’s GDP to see how China’s GDP was at that time. This line graph shows how the quality of people’s life wasn’t improving because there wasn’t any jobs for them. The economy was very weak since there wasn’t enough jobs. Factories didn’t improve either they stayed the same because of the value of the materials. People couldn’t afford things because since there wasn’t jobs they didn’t have enough money to be able to buy things. The Communist China notes talks about the Great Leap Forward. The Great Leap Forward began from 1958 and ended in 1960. During 1959 through 1961 about 50 million people died of starvation. Mao forced people to work and it

Nowadays, China has become the second largest economy in the world. The GDP (gross domestic product) of china was growing at 9.7% per year in average since 1978, which the year of Chinese “open door” politic founded. China also has become the biggest producer and consumer in many key agricultural and industrial markets and the largest FDI recipient among the developing countries. The performance of china in developing of economy is called “china’s economic miracle”, which be studied by many economists. However, there are also bad results with the development of economy in china such as environment disruption, corruption and

Australia’s population is over 20 million and the gross household income per week for the fourth highest quintile is over $1096.00. Twenty per cent of Australian households are represented in this category.

Living and working conditions near the turn of the 20th century in Australia was very diverse and many social issues where apparent. Firstly, working conditions where often poor and the majority of working class Australians had little to no spare time due to being devoted to their jobs. Many men felt entitled to be the strength of a household and provide for the family, and often women and children had to seek employment because most families needed more income flow, however women mostly tended to their household duties . Working conditions where poor and jobs consisted of long hours of labor and little pay, however 4 weeks’ annual leave was granted just as it is today. Secondly, living conditions where very cramped and unsafe, the average

Since the implementation of the "reform and opening-up" policy in 1978, China's economy has been undergoing a rapid and healthy development. Over the past 27 years, China's annual GDP growth has averaged 9.4 per cent, more than doubled that of the world as well as more than two folds that of the developed nations over the same period. In 2004, China's GDP reached USD1650billion, an increase of 9.5 per cent over 2003.(The Embassy of the People's Republic of China in Australia, June 2005)

Not only does income inequality appear in Indonesia, Adelaide is also experiencing inequality pay gaps. Statistics shows South Australia has quite high levels of inequality in wealth across Australia, with the ratio of 5.5. In Adelaide, household income is distributed to $878 per week. The level of income is considered high in South Australia compared to Jakarta, where Indonesians are earning as little as 233, 740 rupiah per month which is less than $24. Statistics agency data released information that 30 million Indonesians are classified as poor, whereas only 13.9% or 2.9 million Australians are living below the poverty

This paper focuses on 3 current trends occurring in the Australian labour market, analysing their causes and effects. The chosen trends are structural unemployment, gender pay gap and skill shortage. The main causes of the first trend are increase demand for services and technological change, which have led us into a new era where highly skilled labour force is needed to operate more complex machineries and computer systems. The rapid technological change has caused structural unemployment, with workers willing to work but cannot because of their lack of required skills. The second trend, gender pay gap, illustrates how wide the pay gap between males and females is until today. The main causes of this current direction

Although this sometimes isn’t the factories fault because most of the workers are uninsured so they are denied medical and social services (“China: Beijing’s Migrant 1”). Most of the factories do try to pay their workers by hour at about twenty cents per hour, but some only pay them once a year (Goldman 1). This however is breaking the rule of Labor Law fifty in China, which states that workers must be paid on a monthly basis. The average wage per month is only about sixty-five dollars which isn’t a sufficient amount of money to support an average family (“China: Beijing’s Migrant 1”). These people try to work overtime to earn more money, but often times they are forced to do this regardless (Goldman 2). Chinese workers often work in fear, because they have to ask permission to leave even after their shifts are done and to even go to the bathroom (Goldman 1). The Chinese workforce is starting to realize these problems and they won’t stand for it.

This paper was prepared for GD530 Economics and the International System, taught by Professor Snow