China 's Economic Growth Mechanism

China is the second largest economy in the world. It has become the fastest growing economy in the world with an average rate of 10% for the last thirty years. The largest exporter and second largest importer of goods has brought China to be ranked first in the foreign exchange reserves. The country with thousands of years of history, started off and continues today as mostly an agrarian economy. Over time China's economy continues to change and prosper. Starting with the first economic change in the early twentieth century, which occurred when the GMD (the Nationalist Party) lost control due to its poor economic performance. This in turn led to their defeat by the CCP. During that time many peasants lost their farmland and this led to a peasant

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

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

China’s economy flourished when it began

China economy experienced an incredible growth in the last few decades that made the country the 2nd largest economy in the world. When China started the program of economic reforms in 1978, it ranked 9th in nominal GDP but 35 years later it’s now ranked 2nd in the nominal GDP and been the world’s manufacturing hub. In recent years, China’s modernization propelled the tertiary sector and in 2013, it became the largest category of GDP with a share of 46.1%, while the secondary sector still accounted for a sizeable, 45% of the country’s total output. Meanwhile, the primary sector's weight in GDP has shrunk dramatically since the country opened up to the world.

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

Dr. Hao Jingfang works for the China Development Research Foundation which helps advance and promote economic development and social progress. She conducts research with an emphasis on rural poverty and presents recommendations to the government. Dr. Hao has witnessed and learned about China’s development over the last century, such as the Cultural Revolution-the birth of communist ideals- and capitalism. China transformed their system and has been ascending economically for the last several decades. Dr. Hao Jingfang had also witnessed its side effects: the excellent ever increasing gross domestic product(GDP) and the not so good effects of increased poverty. Another one of the of the not so spectacular side effects are how the wealth,

Wing Thye Woo, author of “The Real Reasons For China’s Growth,” believes China’s economic growth could be due to privatization of the economy through experimentation that eventually creates a market reform. “This economic experimentation entails the privatization of most of the state-owned sector, which would interim reduce legal discrimination faced by non- state and non-collective forms of ownership. Implies that this privatization would eventually produce a market economy integrated in the internal division of labor and would increase China’s economic opening to the rest of

Globalization is a process that refers to the increased integration between different countries and economies as well as the increased impact of international influences on all aspects of life and economic activity. Over the last 50 years, globalization has had a tremendous impact on the Chinese economy. The impacts brought forth by globalization can be both positive and negative and effect both economic performance, economic growth and the development of China’s economy. Globalization is the main factor responsible for China’s significant growth that has taken place over the last two decades. However, globalization itself is not entirely responsible. The Chinese economy has also implemented strategies which have been very effective in promoting economic growth and development. These strategies include the implantation of“Open door policy”, “Reformation” of China’s agricultural system and joining the World Trade Organisation.

From 1980 to 2010, China relied on a uniquely successful investment- and export-led development model for its 30-year miracle of double digit GDP growth. However, to make rapid industrialization possible, China directed most of its investments to the cities, financed massive urban infrastructure and development projects. In result of

This policy research attempts to investigate the following questions: to what extent does Huaxi follow the standard road of rural development in China since 1978, meaning its association and application of household responsibility system and the Sunan TVE structure? How does Huaxi finance its development and expansion? What’s special about Huaxi’s industrial structure and products manufactured and how do Huaxi’s choice of manufacturing and investing relate to the village’s geography, the nearby Metropolitan area, and the domestic and

China’s rural crisis left the farmers in destitution as the moral economy and the cultural nexus of power broke down, which set the foundation for the later state involution.

China’s urbanization policy is highlighted by their plan to move 250 million rural residents into newly constructed towns and cities over the next dozen years. (Johnson,2014) Ian Johnson said that “The ultimate goal of the government’s modernization plan is to fully integrate 70 percent of the country’s population, or roughly 900 million people, into city living by 2025.” (Johnson,2014) Johnson also said that China is so keen on urbanization because by urbanizing, they could change China’s economic structure from an export reliant country into a country based on domestic demand for product.

The BBC article “The Village and the Girl” allows a personal detailed level of understanding the struggles Xiao Zhang and her family has endured throughout the urbanization process of a small village, White Horse Village, of China by interviewing and observing the differences of the family’s life for 10 years. I want to address some of the challenges and opportunities impacted from the rapid urbanization, how the economic changes impacted the village and China as a whole, and lastly from reading a personalized article what kind of perspective I was able to find on the topic of rural change compared to reading from the textbook.