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China - Dissertation Example

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China – Adoption of Western Views Introduction Liberalization of the market economy of the country of China resulted in a forward leap of the economy of the country ‘by leaps and bounds’. The affluence of the cities of the countries increased considerably but the populations of the rural areas of the country still have not experienced the fruit of globalization…
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Download file to see previous pages The existing business firms also face certain legal, financial, socio economic, political, and technological obstacles due to increased globalization. Despite of these drawbacks Globalization has helped the developing countries of the world through increased opportunities of foreign investments and opening the domestic markets to the global environment. The fourth largest country of the world after USA, Russia, and Canada with a population of 1.3 billion is China in the year 2010. By the year 2015 the population of the country has been expected to reach a value of 1.375 billion on an approximate basis. The unemployment rate of the country has also been in a trend of decreasing with increasing participation of the country in the international market. The unemployment rate decreased from 4.65 percent in the year 2009 to 4.1 percent in the year 2010 with the expected value for 2011 to further decrease to a value of 4 percent and also expected to remain at that level till the year 2015 as per the predictions of the economists of the country. The country has boundaries with 34 other countries of the continent. Russia, India, Pakistan, and six central Asian countries are the close neighboring countries. China remains a leading civilization outstanding the other countries in Arts, Science, culture etc for the recent years. The single party controlled political state of China with a central planned system of administration experienced a market-oriented approach of development after 1978 and since then output and the pace of the country’s development quadrupled. The economy of the People’s Republic of China has been expanding rapidly making the economy of the country a huge one. There has been a miraculous growth of the country’s economy for over the last 30 years with an average growth of above 8 percent of the gross domestic product of the country each year. Participation of the country in the international organizations of the world drastically improved the living standards of the countrymen however many families are still below the standards with the increasing reach of the country to the global market. During this period of 8 percent growth of the country’s GDP the economy of the country experienced more than ten times growth. In the year 2007 the value of the total Gross Domestic Product of the country reached a level of about 3.42 trillion in US dollars. China has been famous in the international community with the increasing contribution in the international trade and with the phenomenal economic growth of the country. In the year, 2010 China has been the largest exporter in the world trade. The double-digit growth rate of the economy in the last 10 years has made it the second largest in terms of the Gross Domestic Product of the country just after the United States of America. The country went ahead of Japan in the year 2001 with its economic development. The economic downturn of 2009 for the first time reduced the demand for the country’s exports in many years but the country again hold back the economy rebounding quickly with a GDP growth rate of 10% in 2010 exceeding all countries. (The world fact book, 2010; Huang, 2002; The Chinese economy, n.d) Research Hypothesis The economic growth of the country of China has been mainly because of the liberalization of the countr ...Download file to see next pagesRead More
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