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The Current State of the CHinese Economic System

Decent Essays
The current state of the Chinese economic system has drawn international attention and praise due to its overwhelmingly positive statistical growth. This growth, according to the nation’s leader, stems from what its government calls strides toward common prosperity. As of 2013, China’s leaders proclaim to be moving toward a state of theoretical consciousness. In China, consistency and persistence is promoted over spontaneity within the confines of a sound economic structure, which has created a fertile ground for socialism to grow. A recent documentary composed by a conglomerate of media outlets, depicts the current economic landscape of China. Its story unravels to present the growing city of Shanghai as progressive, oppressive, and modern; yet, its growth has been rooted in older communist practices, given to much economic success and an uncertain future (“City of Dreams”). The changes that have taken place in modern China since the late 1970’s has grown its economy to unprecedented ends, and by unprecedented means. The transformation into an industrialized capitalistic society has catapulted its development into an uncharted realm, prompting much discussion on its future impact on the world at large. In the following report, we will examine China’s economical changes in three decades, encompassing three distinct phases of economic reform: recovery, establishment, and improvement.
Socialism, combined with practice deliberately and uniquely designed by China’s republic, has
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