TRADE DEVELOPMENT BETWEEN CHINA AND KAZAKHSTAN AND ITS IMPACT ON ECONOMY OF KAZAKHSTAN

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.

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

The author demonstrates a well written engaging argument explaining the key points in the disparity of bilateral trade between China and the US. Meanwhile, discussion on key aspects of reasoning is lacking with emphasises on developing several points rather than expanding on thought provoking discussion. Noteworthy improvements can be ensued to make the article deep in analysis and so warrant publication.

. 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

For more than two decades under the communist rule of Mao Zedong, China’s economy was in a stagnant state, but now it is known to have the world’s fastest growing economy. In fact China is currently undergoing what is being described as a second industrial revolution. According to the international monetary fund, China became the world’s

The necessity for an East Asian Community has never been greater. Globalization of the world economy and trends towards regional trading blocs brings new challenges. Global standards need to be defined and regulations harmonized. Regional cooperation and coordination are required to advance the region’s common interests. The region is endowed with an abundance of skilled labor, entrepreneurs, natural resources, capital and advanced technology. These common challenges and complementary resources call for mutually beneficial cooperation and exchanges, not only in the economic realm, but also in the political, security, environmental, social, cultural and educational arenas. The rapid rise of China and its increasing influence in the region has been a source of friction and concern for its neighbors but has also raised the possibility of imagining an Asia that is less centered on the U.S. China’s growing economy could entail a rebalancing of the economic center for Asia. Unquestionably, China’s role and attitude will be crucial to the success or failure of an East Asian

Some major trade policies have negatively impacted the trade patterns of the two countries in a way that in spite of their growing ties, the bilateral trade relationship is often laden with complexities. According to U.S., China’s unfinished

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

With the economic development of China rapidly increasing, China has gradually attracted the attention from the worldwide publicity, state media reports, and it has become one of the important players in the international sphere. In general, economic development and growth has become one of the most significant factors for China’s successes. Historically, there are three main periods since the founding of China, which are after the establishment of the country, the period of the opening policy, and the contemporary period. Each historical period has significant influences for China’s development. Hence, I will illustrate how China’s economics developed so fast from the past to modern, and how its economics affected Chinese society and its own market.

China can be considered to be a significant success story due to its explosive economic expansion over the past two decades. The country is equally a prosperous one given that its growth rate which averages nearly 10 percent per year and which has created a vast array of new investment and job opportunities – a growth rate that was fuelled by the county’s various reform efforts. It is important to note here that Chinese government’s strategy was to transform the country from a planned economy to a more market-oriented economy. This strategy have made China to influence almost everything in the global economy because its reforms upgraded the country’s status to that of a trading powerhouse whose activities has reverberated throughout the world market(Adhikari & Yongzheng, 2002; Hertel & Walmsley, 2000; Ianchovichina & William, 2002; Rambaugh & Blanche, 2004).

The article chosen is an informative demonstration of how China has emerged as a leading economic power. In just a few short years China has managed to position itself as a manufacturing leader in many of the industries that are most heavily needed by the other nations throughout the world. How China has done this is a remarkable story and provides a compelling reason for choosing an article about their success as a topic for this paper. The article not only highlights China's success but also provides insight into how China is becoming a partner in the world economy much like the United States did in the 50s and 60s and how readily the rest of the world is accepting China's participation.

Fortunately, the trade regime has been significantly liberalised. China’s Open Door policy has dramatically reversed the ‘self-sufficient’ position of pre-1978, welcoming foreign investment and trade. Increasingly, China’s imports and exports are being determined by market forces. The ratio of imports and exports to Gross Domestic Product is 42:100 and China is now the 10th largest trading nation.

Since the Chinese economic reform beginning in 1978, China has witnessed an economic miracle. China’s annual GDP growth has been around 9.5% - 11.5% per year from 1978 to 2013, and GDP per capita has grown to RMB 41,908 in 2013 from RMB 381 in 1978 (National Bureau of Statistics of China, 2014). The opening up of Chinese economy to foreign investments, loosening regulations, and boost of private sectors etc., have all contributed to this economic miracle. China not only supported the growth of the East Asian Tigers, but also was widely considered as the world engine thereafter.

Moreover, nowadays, China is a cross trade place where all countries come in order to do business. It’s today a central point for the manufacturing and the trading thanks to the work and the financial power of this country.

Close to four decades ago, China’s economy was under centrally-controlled, stagnant and isolated from the global economy. Then everything changed after 1979 when the foreign trade investment and free market reform was implemented. Not long after it was implement China’s become the world 's fastest growing economy and now the largest economy in the world surpassing even United States. Today, China is focusing on a more sustainable growth pattern and implementing changes to industry and economic structure.