The Successful Policies Of Chinese Government

China’s economic position has changed greatly, particularly over the last 50 years. Mao Zedong, leader of China at the time, introduced a new method for improving China, often referred to as the 5 year plans. These plans, as the name may suggest, were used for five years, and had a main focus attached.

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

Despite extensive criticism, proponents of the measure feel that it has improved life in China. The policy, implemented in 1979, “was created by the Chinese government to alleviate social, economic and environmental problems in China” (Cabrera). Supporters of the policy claim that is has been successful. One measurement of a country’s success is its financial growth and China has seen an improvement in that respect. “With that rapid GDP growth, has come better nutrition, rising levels of education, longer life expectancies, and higher living standards for the vast majority of Chinese people.” (Azubel 2). Unfortunately, that financial growth has had little impact on the isolated farms and villages.

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.

China economy experienced an incredible growth in the last few decades that made the country the 2nd largest economy in the world. When China started the program of economic reforms in 1978, it ranked 9th in nominal GDP but 35 years later it’s now ranked 2nd in the nominal GDP and been the world’s manufacturing hub. In recent years, China’s modernization propelled the tertiary sector and in 2013, it became the largest category of GDP with a share of 46.1%, while the secondary sector still accounted for a sizeable, 45% of the country’s total output. Meanwhile, the primary sector's weight in GDP has shrunk dramatically since the country opened up to the world.

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.

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

Economic growth, put simply, is “an increase in the amount of goods and services produced per head of the population over a period of time”; development is inextricably linked with this economic growth. By utilising theories of economic growth and development we can see how the Chinese and Sub-Saharan African economies have emerged, but, more notably, we can use these to look at patterns from past and present to show their experience and the implications of this growth for the future.

Charles Darwin in his theory of natural selection said “ the fittest of the fittest will survive,” and year after year China has proven they are the fittest by climbing the economic ladder, as Mark Schwartz Vice Chairman of Goldman Sachs and Chairman of Golden Sachs Asia Pacific, claims in his speech “China’s Economic Success and Opportunities,” “China is coming out of a period of rapid growth almost ten percent over the last thirty (30) years. In 2013 China’s gross domestic product (GDP) was 9.3 trillion dollars in size the second largest economy on the world and in 2013 China contributed 28% GDP to the world growth globally” (Schwartz). Was this growth due to rapid industrialization or the implementation of polices using Marxist and Keynesian perspectives or was it the authoritarian regime? However, it is China’s collectivist approach towards socialism that is responsible for their recent success.

On global standards, in the consideration of growth, Chinas economy is impressive. However, within the nation itself, the economy has not been able to achieve the government standards it wants to during the past few years. The capability that China has to become the largest economy in the world is evident due to the fact that China is the second largest economy and with that power, everyone is looking at them to see how they are going to survive in the years to come. Their economy grew 6.7 percent in 2016, which is a 2 percent decrease from 2015. This may appear unfavorable at a glance but it is within China’s target range; therefore, a two percent decrease does not affect them much in the long run. China has to be able to reflect on what

The changes in China’s economy can be traced to between 1976 to 1978, when the Cultural Revolution had effectively ended and widespread social, economic, and political conflict that accompanied it. The Culture Revolution was motivated in large part by revolution ideology and an attempt to purge the state of its “liberal bourgeoisie” elements, hence the forced reeducation and relocation from the cities to rural areas of millions of Chinese citizens . As the havoc wrought by the Cultural Revolution dissipated, China’s leaders focused on the goal of enriching their impoverished nation. The nation had been paralyzed economically by the chaos that had ensued . While there was agreement among China’s political leaders regarding the need for economic change, the road forward for the nation was unclear.

Over the last 50 years, china has experienced a meteoric growth economically to become one of the world’s most industrialized and modernized countries. One of the reasons for this accelerated growth of the country’s economy is the decision by the authorities to adopt an open economy aimed at tapping the benefits of globalization. During this period of economic growth, the country has progressively moved from a predominant agrarian society steeped in traditions to an industrialized and modernized society. This transformation has led to improvement of standards of living and increased industrial output, hence propelling the growth of China’s economy. This has not been without the conscious efforts by the government to undermine traditions in

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