Liberalization Of The Economy And The Need For More

2991 WordsDec 4, 201412 Pages
John Williams Daniel Kelliher POL 4473 December 4, 2014 China: liberalization of the economy and the need for more. China has increasingly liberalized their centrally governed economy into a market-controlled economy and continuing this trend is likely to prove to be beneficial. Exploring the past, we will see where the influence for liberalization came from. How liberalization has allowed China to be where it is today as an economic super power and how it will influence the future of China’s development and association with the world economy. THE PAST THAT INFLUENCED TODAY China had to experience some tough times before even considering addressing economic policy changes that would change the way that china did business with the world. Before the time of Mao Zedong and the Peoples Republic of China, the land of China was controlled by landlords that thuggishly ruled over their areas in order to maintain wealth and food for themselves while supporting the larger government. After the revolution and the implementation of the People Republic of China, the land was taken from these landlords and redistributed back to the peasants that worked the land. They were allowed to farm this land to produce crops for the government as well as make enough for self-sustainment. Later these peasants were grouped into cooperatives in order to meet the needs of the growing country. Eventually, in 1958, the land was completely taken from the peasants and they were placed into communes. This

More about Liberalization Of The Economy And The Need For More

Open Document