The modern world has become familiar with the phrase ‘Made in China’. Chinese goods and services are being sold all over the world. There is clearly a shift in economic power from the developed West to China and India…
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As a result there was a wide variety of goods and services to choose from. Chinese producers were also able to export their goods and expand their businesses overseas. By the late 1980’s these reforms had accomplished extraordinary results: incomes increased, more consumer products, food and housing was made available and the country experienced high growth rates. The economic reforms were Chinese government’s way to emphasize an increase production, consumption and people’s income as well as advancement in technology without it having an adverse impact on budget deficits, inflation and unemployment. The first of these economic reforms were introduced in the agricultural sector. Under the agricultural reforms, agricultural land was divided among farmers who became owners of the lands they worked on. The farmers were allowed to keep the agricultural output if they agreed to give a small share of it to the government. This was a popular move among the farmers who found a way to increase their incomes. The result of these reforms was a dramatic increase in production of agricultural goods and this move stimulated the growth in the agricultural industry. Farmers were also able improve their standard of living as the reforms allowed them to increase their income by producing more goods (Myers 1991). Foreign trade played a significant role to boost China’s economy once the new economic reforms were introduced. In the years preceding the economic revolution foreign trade rarely contributed more than 10% to China’s GDP as the country mostly relied on self-sufficiency. However after the reforms the contribution increased significantly and by 1986 foreign trade contributed to 36% of the...
The modern world has become familiar with the phrase ‘Made in China’. Chinese goods and services are being sold all over the world. There is clearly a shift in economic power from the developed West to China and India. The remarkable growth of China can be credited greatly to the Chinese Economic Revolution that occurred in the late 1970’s. The remarkable growth of China can be credited greatly to the Chinese Economic Revolution that occurred in the late 1970’s. In 1978 Deng Xiaoping introduced economic reforms in China. There were two phases to the reforms. In the first phases focus was on the countryside. A ‘Household Responsibility System’ was introduced which made peasants, working on farms, owners of those lands. The second phase of these reforms focused on industrialization and worker welfare as well as on enterprises. One of the key changes as a result of these reforms was that control was shifted from state-owned to private enterprise. These reforms were against the communist philosophy as they supported a free-market system. These reforms helped arouse a sleeping economic giant from its slumber and take the world’s economic stage by storm. The reforms encouraged private entrepreneurship, foreign investment and foreign trade, reduced government control with focus on free-market and education of the labor force among others. The Chinese economy will continue to grow and maintain its average growth rates of 10% per annum till 2020.
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The country is indeed unique among nations despite the turmoil, both social and political, that occurred in this nation in the early days. China’s cultural growth has seen very little foreign influence with Buddhism from India being the major contributor.
Religion of creation has been enjoyed in most parts of the country; with the freedom to choose and express ones own religious belief, the religion one can say that the Chinese have to some extend enjoyed the religion of creation which is characterized with the belief in God as source of divine power, cultivation of good relationship with enemies, belief in God as the supreme leader among others1.
88) recognized that the country facilitates a paradigm shift in its economy when compared to other nations across the globe. China is the third largest economy globally due to its advances in information technology and other resources. However, there has been a crying need for the new breed of development to usher in the quality movement that benchmark problem that range from cultural to ethical perceptive.
One-Child policy has been a controversial state issue over the last thirty years. Chinese legislatures have shown that this policy has been of significance in controlling China’s population, which was growing at an alarming rate over the past decades. They have indicated that One-Child policy has prevented over 250 million births between 1979 and 2000 (Goh 12).
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The reforms have seen government ceding control of market structures to private sector which has led to a higho much of GDP (as higher as 80%) to be in private sector, and a stronger Chinese economy, "which has enabled insurance companies and banks to make substantial investments with encouraging returns.
This paper will explore the perspectives that Western scholars employed in order to understand the Chinese Cultural Revolution. While the theme of the paper does not necessarily require this author to take a
The Yan’an era was the most significant period in the history of the republic of china. It was more challenging compared to what the Chinese Communist Party accounts of propaganda. The period saw major events in the history of China take place such as the Sino-Japanese war,
the pioneers of the venture that is the North American continent, it means a step closer towards self-sufficiency, while for the major gas and oil producers there is reason to worry as it will mean decreased revenue. The political climate between the main shale gas producers
Economic dominance can be defined as those countries that have grown or developed in terms of output, industrialization, telecommunication, technology and infrastructure among others. It is argued in the paper that Chinese fast growing economy may overlap United States economy in the coming future and that China may become the dominant country.
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