The Suffering of China as a Result of Economic Growth Essay

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

China has changed in certain ways and remained the same in others from the early Golden Ages to the late 1900s. China has experienced a series of cultural and political transformations, shaping the lives of many Chinese citizens. Culturally, the country’s art and literature hardly changed for almost eight hundred years. Along with their culture, China remained politically the same from the beginning of the Golden Ages all the way until the 1800s. On the other hand, China’s government and society were restructured after new leaders took over. From a monarch to total communism, China’s society had a multitude of new ideas and policies they had to adapt to.

For an economy other than Australia, explain how government development strategies have responded to the process of globalisation.

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

- China had the most profitable and wealthiest economy compared to most of the world via their highly export-based trade.

This fact remains accurate after government attempts at wealth redistribution such as taxes. This shows that the government is not successful at helping to redistribute wealth and the dramatic increases in wealth of the rich while the poor barely improve show the inefficacy of the “trickle-down economy” model. To figure out why the 10% is gaining wealth so quickly, the people that make up this small group must be analyzed. The top 10% is essentially comprised of three main groups: superstars, CEOs, and high-income professionals. However, the incomes of superstars and CEOs are increasing more rapidly than those of the high-income professionals (Belsie). While the incomes of high-income professionals and superstars are market driven, they do not benefit from the same rate that CEOs do.

The top ten percent earned more than $75,400 and the lowest earned less than $12,600.

As many other countries around the world China has its long history of a struggle for equality and prosperity against tyrants and dictatorships. The establishment of People’s Republic of China in 1949 seemed to have put an end to that struggle for a better life. “The Chinese people have stood up!” declared Mao Tse-tung, the chairman of China’s Communist Party (CPP) – a leading political force in the country for the time. The people were defined as a coalition of four social classes: the workers, the peasants, the petite bourgeoisie and the national-capitalists. The four classes were to be led buy the CPP, as the leader of the working class.

Dr. Hao Jingfang works for the China Development Research Foundation which helps advance and promote economic development and social progress. She conducts research with an emphasis on rural poverty and presents recommendations to the government. Dr. Hao has witnessed and learned about China’s development over the last century, such as the Cultural Revolution-the birth of communist ideals- and capitalism. China transformed their system and has been ascending economically for the last several decades. Dr. Hao Jingfang had also witnessed its side effects: the excellent ever increasing gross domestic product(GDP) and the not so good effects of increased poverty. Another one of the of the not so spectacular side effects are how the wealth,

The Trickle-down theory, a well-known theory in fashion industry, has significant meaning in 19th to 20th century Europe. The American economist and sociologist, Veblen, published The theory of the Leisure Class by 1899, in which he discussed the split between the leisure class and the industrial class in the US critically. He concluded that leisure class treats dress as a sign of their status and possessions, furthermore, ‘Dress must not only be conspicuously expensive and inconvenient; it must at the same time be up to date’(Veblen 1994), by saying that, he refers to upper class was tend to create new fashion trend which was the top of the trickle-down theory. In the 20th century, Simmel, the

This can be illustrated that in 1979 the Chinese government had brought about several new programs designed to stimulate the economy. During the same period of time that rapid Chinese economic growth took place there was a positive correlation with economic growth and wealth inequality rose as well. Currently, China has one of the highest wealth disparities on the

The poor peasants in China did not own their own land and had to pay

Mao Zedong once stated, “Communism is at once a complete system of proletarian ideology and a new social system. It is different from any other ideological and social system, and is the most complete, progressive, revolutionary and rational system in human history. The ideological and social system of feudalism has a place only in the museum of history. The ideological and social system of capitalism has also become a museum piece in one part of the world (in the Soviet Union), while in other countries it resembles ‘a dying person who is sinking fast, like the sun setting beyond the western hills’, and will soon be relegated to the museum. The communist ideological and social system alone is full of youth and vitality, sweeping the world

China's Survival of Crisis Due to Economic Reforms In the years before 1976, many unwise policies were carried out which brought China into a crisis of communism, or a state in which communism was threatened. The Great Leap Forward and the Cultural Revolution were specifically the main causes of the crisis of communism and the mastermind between these two movements, Mao Zedong, can be held responsible for their initiation. The Great Leap Forward was a great economic failure. Years of famine and intense suffering came about as a result of this skewed project of Mao's.

The ongoing economic rise in China effects the US in many ways, including things that some people wouldn’t even consider. It can be seen that the Chinese are beginning to need more jobs, but can that be because some of theirs are being given to us? And, that’s not the only thing they’re giving us. China has the proven to be worst pollution in the world, and it has gotten to the point where the polluted air has travelled overseas to the US, and has begun to take a toll on us. But, they’re not only giving to us. Because of it becoming harder to find jobs, the students push themselves to the limit to become perfect, which could create competition with graduates here in America.