The Pros And Cons Of Capitalism In China

Since the start of the 20th century, with the fall of the Qing dynasty, when China was in shambles with no industry, a corrupt government and no international presence, all the way up until today, where China has evolved into one of the strongest internationally recognized countries with a highly globalized market, the relationship between the Chinese people and its government has been debated on whether or not Chinese society is one ruled and dominated by a central government or a society where social change occurred because of bottom-up forces leading to a government for the people. China, since 1949, has been a country, which has been run by a single party state, known as the CCP (Chinese Communist Party). The CCP is organized under the basis of a central, unchallenged party governing the people by the means of communism. Throughout the past century, the CCP has dictated and maintained a rule over the livelihood of its people by monopolizing Chinese politics and penalizing those who opposed it, through central command planning and on the other spectrum, radical economic reforms at the end of the 20th century in the interest of keeping the CCP in power.

Communism in China as we know has played a major role in the countries political system over the past century. Chen Duxiu and Li Dazhao were the co-founders of the communist party in 1921. At the time China was in a world or turmoil ever since the end of the Qing Dynasty in 1911. For 10 years China was lost in a world with new ideas coming from all over the world. At the time, Duxiu and Dazhao saw an opportunity to bring change throughout a weakened China and they exploited it. The communist influence being brought by them and powers such as Russia influenced the Chinese way of thinking that Communism had new beliefs of the world and that all people should be seen as equal under the new government. Personally I am a very strong believer in

Located in Eastern Asia, China is a country known for being a worldwide economic superpower that has had a communist government for several years. Beginning in 1978, China, under Deng Xiaoping’s rule, began to incorporate capitalistic ideas in the government. Deng created various reforms unlike any of the policies or reforms in prior years that began to reconstruct China’s economy through modernization and by establishment of international trade.

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,

Nations have debated on which economic direction their country will direct its footsteps since the creation of societies. The United States, being one of the most stereotypical capitalistic nations, began as a Laissez-faire nation, but throughout the centuries America’s economic standpoint has shifted more into Socialism rather than Laissez-faire. The second largest economy in the world, China, is widely understood as being a socialist country, however, for the past years they have been inclined towards a more capitalist nation, but are still officially socialist. Socialism and Laissez-faire both have fatal flaws, but both concepts can be blended and pragmatic to the new millennium while having a positive future.

China economy started at 1978, the first economic growth reforms in 1979, the average annual Gross Domestic Product or for short GDP growth rate in China was about 5.3% from 1960-1978. China 's economy was mainly widespread of poverty, very low-income inequalities.The average national life expectancy has more than triple, rising thirty-two years in 1949 to sixty-nine years in 1985.

Many factors such as, growing liberalization, economic disparities, and inflations. led to the protests. During Mao Ze Dong's leadership, the Chinese government collectivized industries and agriculture. After his death, his successor Deng Xiao Ping implemented the Gai Ge Kai Fang policy, de-collectivizing industries and agriculture. (Huenemann 2017) This policy also allowed citizens greater freedom. Some academics even received encouragement from the government to take an active political stance. (The Editors of Encyclopædia Britannica) Following the privatization of agriculture and industries, China experienced great economic growth. Unfortunately, this also caused the rate of corruption, and economic disparities to surge. China also experienced price inflations as it

Mao Zedong, the leader of China during the third quarter of the 20th century, organized two movements in his country in an attempt to develop China 's economy through the establishment of communism. Through The Great Leap Forward, Mao planned to change the layout of the Chinese economy by forcing collectivism on his country and implementing other ways to speed up production. Since this movement failed, he then implemented The Cultural Revolution. It consisted of the same goals but was carried out through violence and was also an utter failure. These two movements failed because of the lack of organization with which they were performed. This lack of organization manifested itself in a number of different ways. The government did not care about their people, the reforms themselves were not planned out in detail, the government did not think about the spontaneity of young people, they did not consider the effect violence would have on their country, they did not realize the decline in education that would result from the participation of students in the revolution, they did not plan well economically, they did not examine the negative effects of communes, and they did not foresee the large number of deaths that would plague their country. Although designed to rapidly increase China 's economic growth through communism, the Great Leap Forward and the Cultural Revolution had the opposite effects and significantly diminished China 's economy. The two direct causes of the failure

In 1949 china was under the expression of a communist state. The regime of china was set up in similarity to the regime of Vladimir Lenin in the Soviet Union. Mao Zedong was part of the communist party. He followed the vision of Karl Marx, by envisioning a society under his regime that all shared equal prosperity and communism. In order to bring this vision to reality, he wanted to eliminate all capitalism and its emphasis on property rights, profits, and free-market competition. In the 1950’s in the rural of china, Mao banned free markets, which involved peasants selling farm products. However the trade of capitalism still existed through the private enterprise of remnants. Mao was dissatisfied with the outcomes towards an economy of Marxism. So he strived for a stronger approach by coming up with the Great Leap Forward. However, after the intense economic development that china had suffered from the great leap forward, it left millions of individuals throughout china suffering from the masses and deaths from the collapse of the food system. Because of the major consequences that were suffered from this approach it was unable to be left unnoticed. So, in 1960 after Moa Zedong declined all responsibility towards the disaster from the Great Leap Forward, Lui Shao-chi and Deng Xiaoping were left to rectify and administer the crisis. However, their attempt to repair the economic damages towards china, only led to the reverse of Mao’s earlier policies. That were

I"It matters not whether the cat is black or white, as long as it catches mice." Deng Xiaoping

For example, according to the book titled The Party: The Secret World of China's Communist Rulers, Richard McGregor states that “The sole experience of Chinese communism for many business leaders who have invested in, and profited from, the transformation of the country into an economy that often appears on the surface to be a uniquely unbridled form of capitalism, are officials who want to do business”(45). In other words, although China is a communist country, its people support and are in favor of capitalism; therefore, the statement shows that Communist China is a capitalist economy. However, at the time of Mao Zedong who was in charge of Communist China, capitalism was not allowed, so China was not a capitalist economy, and after the death of Mao Zedong, people were on their own in order to control their businesses because there was not a leader to control the government and people. Therefore, people started to govern the economy by their own which this system was leading them more to capitalism system. McGregor mentions, “After Mao’s downfall and death, the Party went back to basics. Deng Xiaoping threw out Mao’s destructive notions and returned the party organization to its Leninist roots, as an empowered elite providing enlightened leadership to the masses”(39). When Deng Xiaoping took the Mao Zedong’s position, he went through some difficulties, and the country’s economy was

Globalization means economic,social,culture and communications integration become integrated with each countries. All of the president very concerned about the benefit which globalization bring to them especially economic globalization.However,it will cause a loss that can not be overlooked if we are indiscriminate.

China's transition from the leadership under the iron fist of Mao Zedong to the more liberal Deng Xiao Ping gave the People's Republic a gradual increase in economic freedom while maintaining political stability. During Mao's regime, the country focused on bolstering and serving the community, while subsequently encumbering individual growth and prosperity. Deng advocated a more capitalist economic ideology, which established China as an economic force in the global community while endowing its citizens with more liberties and luxuries than previously granted.

Capitalism is a subject that can be considered deeply controversial. There are many who tout the benefits that capitalism provides to the economy and the progress of human society. There are others who decry that it is a system which promotes selfish motives and extols profits above honesty and genuine goodness. This essay will examine the claims of each and will reach to conclude the answer to the question “is capitalism good?”

From post-1976 onwards, Deng Xiaoping and his conservative pragmatist government would bring great reform to China, which would allow her to tide over the troubles caused by the crisis in communism. Indeed, it would seem that his economic reforms were the main reason for China's survival, as opposed to political reform. Under Deng Xiaoping, action was taken to move China from a Soviet-style command economy to a more capitalist market economy. On the other hand, political reform was not as pronounced as Deng wished to retain the traditional communist style of party dictatorship.