China

Two of the world’s most popular and diverse economic systems are Communism and Capitalism. Capitalism, or a free enterprise economy, is an economic system constructed by the freedoms of the marketplace. The capitalist economy has several promising advantages. The capitalist government subtly changes and adjusts to the current conditions with ease. A communist system can be defined as an economic system where many, if not all, factors of production are controlled and owned by the government.

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,

Free enterprise and Command economies tend to contradict each other with the way they handle the production and growth with in an economy. But when a Mixed economy is into play these two different economies get combined. In this essay I will explain both of the economies and tell how they work together

Although China has a reputation of being a communist nation, China employs a mixed economy: Communism with a flare of Capitalism. In recent years, China has been easing up economic restrictions by displaying characteristics of a free-enterprise economy.

For example, according to the book titled The Party: The Secret World of China's Communist Rulers, Richard McGregor states that “The sole experience of Chinese communism for many business leaders who have invested in, and profited from, the transformation of the country into an economy that often appears on the surface to be a uniquely unbridled form of capitalism, are officials who want to do business”(45). In other words, although China is a communist country, its people support and are in favor of capitalism; therefore, the statement shows that Communist China is a capitalist economy. However, at the time of Mao Zedong who was in charge of Communist China, capitalism was not allowed, so China was not a capitalist economy, and after the death of Mao Zedong, people were on their own in order to control their businesses because there was not a leader to control the government and people. Therefore, people started to govern the economy by their own which this system was leading them more to capitalism system. McGregor mentions, “After Mao’s downfall and death, the Party went back to basics. Deng Xiaoping threw out Mao’s destructive notions and returned the party organization to its Leninist roots, as an empowered elite providing enlightened leadership to the masses”(39). When Deng Xiaoping took the Mao Zedong’s position, he went through some difficulties, and the country’s economy was

In addition to this the life expectancy has increased and nearly all of its citizens are covered by medical insurance. This is relevant to what it occurring with Obamacare in the US. China, having the world largest population, is able to have everyone covered by medical insurance, can serve as a great precedence to see how Obamacare might fare in the future. The US will have to see how China handles its social welfare and take lessons to incorporate into its own system, but only time will tell how well this will turn out. One of the key points for development in China and how China was able to achieve its goals by its trade reform. In 2013 China set up its first free trade zone in China, thereby making it a more attractive target for foreign investment. This combined with its Belt and Road initiative, which seeks to expand its trade routes by land and sea, is why I believe China is on the path towards economic dominance. This is the opposite of what the US and other countries are doing, in fact just recently the US and Germany imposed new tariffs on solar panels that were being exported from Taiwan. From the US’s perspective, I believe that they are doing so to protect its domestic

Throughout time, many countries have needed to implement some sort of economic reform in order to strengthen their economy so that they can be more of a power on the world stage and to stabilize their country. The Chinese reforms were long in the making, an unfolding process that had spanned most of the 20th century and, unlike other countries such as Russia who were trying to do the same thing but whom eventually failed, China prospered, and increased its economy greatly. China has had the fastest growing economy in the world for the past two decades, with an annual growth rate of approximately 10 percent since the economic reforms in 1979, and now has the second largest GDP in the world, second only to the USA. Starting in 1979 they

China has previously employed a closed centrally planned economy but has now employed a new socialist market economy, due to economic reforms introduced by Deng Xiaoping in 1978. A socialist economy offers collective ownership, either through a state-controlled agency or worker cooperative and also discourages private ownership.

A command economy is an economic system in which basically every aspect of money is controlled and regulated by a central government. This included setting the prices that goods would cost and even assigning incomes to workers. Rather than relying on supply and demand as we do, they rely on goals and production outputs that the central government places. Command economies can be very efficient in the use of the countries resources since they can be easily controlled by the government and also there is usually very low unemployment as the government basically hands you a job. The cons of a command economy far outweigh the pros which is exactly why they did not succeed in the long term.

      Capitalism is the most popular types of ways to work a government. Capitalism gives the people as much free-will as possible, letting people to begin their dream of a small business. This economical system also affects a country in a positive manner. It makes the country a hard-working country because of the large amount of freedom it is given to start a business. This shows how great a capitalist economical system is great for all countries.

Modern China runs off of the economic philosophy of the Four Modernizations (capitalist ideals) introduced by Deng Xiaoping. He is quoted as saying “I don’t care if a cat is red or white, as long as it catches mice” (Modern China 1). The original communist party was introduced in 1921 during Mao Zedong’s regime. Although this communist economy has been revised to fit into a capitalist mold, there are still many things that China restricts in and of itself. China is a diverse country, in a way many countries fail to recreate. They are the world’s second richest country, in part to its capitalist money drive, yet they lean towards a communist government.

All people around the world make a question: How much should the government influence the economy of a country? And there are many answers. Regulating the public goods in a manner where the negative externalities would be minimized, government’s role is to uphold freedom of the market with government providing safety and stability only for essentials. If there are too many regulations by the government, it will slow down and stop jobs, prices will go up and the economy will slow down. If there is no government at all everyone will act in their own interest and there will be too many negative externalities and the market will become crazy. Still, if the market has more space

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It is a seriously problem are existed in China for a long time, which China is closer to being a traditional, command, or market economy. Actually, there are two main types of economy around the world what are the command economy and the market economy. China is market economy more than traditional and command economy. People always control and change some rules of economy who is the leader or government of China cause many economy issues. As we know, the departed China used to have command economy that the government have power to control and decided all economy system, which is called Communist Party. However, there was a big change in Chinese economy when Third Plenary Session of the 11th Central Committee of the Chinese Communist Party

Does Chinese Foreign Policy reflect the concerns of a status quo power or a revisionist power?