China And Its Impact On Chinese Citizens

Decent Essays
Over the last 50 years, china has experienced a meteoric growth economically to become one of the world’s most industrialized and modernized countries. One of the reasons for this accelerated growth of the country’s economy is the decision by the authorities to adopt an open economy aimed at tapping the benefits of globalization. During this period of economic growth, the country has progressively moved from a predominant agrarian society steeped in traditions to an industrialized and modernized society. This transformation has led to improvement of standards of living and increased industrial output, hence propelling the growth of China’s economy. This has not been without the conscious efforts by the government to undermine traditions in…show more content…
More global organizations have taken advantage of globalization and free trade to sell their products in the Chinese market. This leads to greater affluence and improved living standards for the Chinese people. Citizens are now able to access a wide range of life-improving commodities such as medicine and other consumer products. The sheer size of the Chinese population, at 1.3 billion, magnifies the advantages of state-controlled advanced manufacturing. This enables the country to enjoy the benefits of economies of scale in which more output is produced at minimal cost. These are benefits that were not there during the agrarian period of production which were characterized by low output and inefficiencies.
The third advantage of modernization is the rapid growth of china’s manufacturing capacity in the last 20 years. This growth is as a result of a combination of political and social transformation that happened between 1948 and 1979. Though the social costs of this transformation were high, the resulting benefits were worth the efforts. This enabled China to grow at a faster rate economically than many countries that stuck to traditional methods (Hewitt 30). For example, in the year 1980, China and India were at the same economic level in terms of Gross Domestic Product and Per Capita Income. India’s economic development approach was focused on preserving the country’s tradition and heritage. This slowed down the country’s economic growth because the policy
Get Access