New Growth And Reform Of China

The attached article discussed the risks and rewards of China going global. Critically analyse China’s international expansion. Also recommend what China can do to generate further economic growth for both its local economy and discuss how this can contribute to the global economic growth.

The purpose of this research report is to provide an overview of China’s economic growth in relation to the long term economic growth drivers. Critical assessment will be made on the growth drivers to determine whether they lead to long term economic growth.

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 has reached a milestone in terms of achieving its centenarian goal of making China a prosperous nation once again. One of the ways that it has done this is by having steady economic growth even in the midst of an economic crisis. Not only has China’s economy grown, but its standard of living has also improved, it has achieved this by spending 70 percent of its fiscal revenue towards improving people’s standard of living. China has also pushed more anti-corruption reforms and has made efforts towards widening its economy by setting up freer trade.

The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.

In Susan Shirk’s book ‘Fragile Superpower’, the author illustrates that the multitude of internal problems that China faces and will continue to face could potentially undermine its peaceful rise. Although the Chinese people have experienced a major upgrade in their living standards in just twenty-five years, the Chinese economic transformation has not been without significant social and environmental costs. As a consequence of its economic transformation, China has developed a number of internal stresses, which have posed existential threats to its national economy and political structure. One of these stresses is a growing shortage of natural resources in China. One significant systemic level cause for the rise in Chinese developmental finance

Hung’s stated goals are as follows. First, he aims to outline the historical origins of the capitalist boom in China as well as the conditions which predicated said boom. He also names four conceptions against history to explore the global effects of China’s capitalist boom and the limit of that boom. Firstly, he seeks to challenge the notion that China is challenging the United States neoliberal order. Secondly, he examines the belief that the increasing incomes of poor Chinese citizens helps to reverse worldwide income polarization. Thirdly, he analyzes the claim that China’s rise is challenging Western dominion over the world, and is radically altering the world order. Lastly, he plans to evaluate the assertion that China has been emerging as the most powerful driver of growth since the global financial crisis. He plans to devote a single chapter to the refutation of each of these views and explanations of why they overstate the importance of China, in addition to several introductory chapters describing China’s rise. He aims to prove with this work that China is no different than the other major capitalist powers, that its boom is dependent on the global neoliberal order, that its boom contributes to rampant inequality, and, in sum, that China is just a foundation of the capitalist status quo.

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

For the past century, Chinese society has felt a compulsive desire to develop at breakneck speeds. In pursuing development, China’s primary goal has been to display its sophistication to the world, rather than to directly aid the welfare of its citizens. Following this hierarchy of objectives, China has continued to relentlessly modernize despite enormous negative consequences; the development powered through famine during the Great Leap Forward, violence during the Cultural Revolution, and economic dislocation during liberalization, accepting negative consequences as bearable burdens on the path to global renown. Ignoring these issues, China has proven itself more responsive to international views of modernity than to immediate national

China as an economy has change rapidly over the past few decades. It has gone from a war struck country prior 1978, in which the economy was greatly effect, to one of the largest

China is a growing country; its population is about 1.4 billion, and as of 2014, the Chinese economy is the world’s second largest (in terms of nominal GDP,) totaling approximately US$10.380 trillion, with a growth rate of 7.4%, and the GDP per capita is US$3,619.4. From last century to this century, China has had significant improvements in their economic development. China had been in three major crises during the last century: the 20th century. The Fall of Qing Dynasty, World War II, and Civil War in China, all of them struck China in a destructive way. From the end of the 20th century, China was in a fast-developing mode.

. In the contemporary scheme of things China makes up for roughly 11% of the world’s exports, an amazing feat for a country that practiced an isolation policy and communism only forty years prior. Additionally, China with a large-scale allocation of funds to improve poverty ratings has successfully brought four hundred million people out of poverty, into a lower-middle class. Now, while still competing with Japan for Asian hegemony, China enjoys a great deal more security and prosperity through its transformation from a failing communist state to a wealthy hyper-capitalist state. Through capitalistic economic reforms, an export led economy, and efficient one-party, authoritarian politics China has been able to bounce back from three decades

What these reforms have done to China are incredible. During 1978-1994, the annual GNP growth rate averaged about 10 percent, which during that same time period was far higher than the world average of 3 percent . However, over the past five years has experienced slow growth rate in the economy. Some economists contest that China’s first two decades of reforms reflected a“catch-up” growth period, and that the country has now “run out of easy things to reform” (Henderson pg.

The purpose of this essay is to show how the economy of China has, and is changing, becoming the second largest economy in the world today. Although China is currently under the leadership of Xi Jinping, this essay will concentrate primarily on the actions undertaken by then President Mao Zedong, followed by then President Deng Xiaoping, (sans mention of Hua Guofeng). Given the relative infancy of Xi’s assumption of power, economic policies still remain largely rhetorical in form. Likewise, the majority of literature concerning economic policies under Xi are largely speculative, often citing strategies and ambitions as opposed to thereby, lacking a solid basis for rational induction In addition to China’s lack of transparency, In addition, it will be shown that the methodology behind the Chinese economy demonstrates the implementation of varying levels of the characteristics associated with the schools of Realism, Marxism and Liberalism. Thus, China’s approach to global trade in the 21st Century is pluralistic, testamentary to the failed economic