We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Advanced Technology the Key to the Chinese Economy Development - Essay Example

Comments (0)
Summary
This paper "Advanced Technology – the Key to the Chinese Economy Development" focuses on the economists that are concerned over the issue of not occurrence of the industrial revolution in China in the eighteenth century although China possessed all the elements required for the revolution to take place…
Download full paper
GRAB THE BEST PAPER
Advanced Technology the Key to the Chinese Economy Development
Read TextPreview

Extract of sample
Advanced Technology the Key to the Chinese Economy Development

Download file to see previous pages... China failed to take the next step and the topic of discussion of the articles revolves around the cause of failure taking the Needham under consideration. The high-level equilibrium trap The above concept was first proposed by Mark Elvin and later supported by some eminent historians. Elvin analysed the economy and the surprising technological advancements and came out with the hypothesis of inadequate capital, constraints in the market, lack of entrepreneurship to be the major causes of failure. He supported his view with examples and evidence. The incentives behind technological innovations were led by family farming, the market system and the fee-simple ownership. So the advancement took the rising curve initially (Maluste, 2011, p.22). The population expanded rapidly and the amount of land got limited. The required amount of food to feed the entire population got limited leading to cheap labour and cost of capital increased. So the country lacked the required surplus necessary for sustained industrialization. Although China reached the threshold level at the fourteenth century the population grew to such a level where there was no requirement for the labour saving devices (Lin, 1995, p.272). The potential of agriculture is correlated with agriculture. If there is inhibition of technology the equilibrium trap is absent. Therefore, the focus should be towards the rising cause of land ratio and the reason which can be stated is the lack of inventive creativity. According to Chao, the worsening of man to land ratio was not due to the orientation of inventions. If the man to land ratio of the twelfth century is taken into account the claim of no need for technological advancements appears tenuous. The surveys proved that in those periods there was not a single day where the farm households were not occupied in the farmlands. Therefore the claim of no need of labour saving devices is not valid (Bloom, et al, 2006, p.1). The other reason stated by the above-discussed hypothesis is inadequate surplus from agriculture rising from weak man to land ratio. This reason has some flaws as well. The surplus of per capita should have been higher in the fourteenth and fifteenth century than that achieved in the twelfth century. Again there is no empirical support to claim the statement that high man to land ratio depleted from the agricultural surplus. Therefore the concept of high-level equilibrium trap stands invalid in analysing the reasons of absence of industrial revolution in China (Kuijs, 2012, p.15). Population, Science and innovations China failed to reap the benefits of technological advancements as it did not transform the experience based procedure of discovery to experiment cum science-based improvement. The Needham’s model assumes the source of the invention to be trial and error. One type of trial and error is based on experience while the other is based on experiment. The former refers to the activities of peasants on the farmland while the later trial and error refer to the activities of the investor to innovate new technologies. The technology can be freely obtained from the former while that from later trial and error is costly. The implications drawn from the Needham’s model are discussed below (Swamy, 2010, p.12). The probability of invention or innovation of new technology is dependent upon the positive function of the number of trials.  ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Chinese Economy
They became isolated from both capitalist and capitalism spheres in 1960s and 1970s.During this period they adopted a strategy called ‘self reliance’. They traded mostly with western countries (EU and Japan) whereby they imported grain and machinery and exported textile and light industrial goods.
21 Pages(5250 words)Assignment
Development of Chinese economic
The status of national economy, its growth potential and the constraints in establishing market for the companies’ products internationally and cultural aspects involved at the grass root level in achieving these objectives need to be carefully reviewed for this purpose.
38 Pages(9500 words)Dissertation
Advanced professional development
Professional development for me will be very important because I understand that it will help me in getting the correct aptitude that will enable me to develop my profession. I also understand that it will enhance my learning. I have worked hard to achieve professional skills which I hope will be further developed by professional development so that I can enhance my job output, organization efficiency and my general success.
8 Pages(2000 words)Personal Statement
Chinese Economy Master Essay
China is a place that should be considered as part of nearly everyone's strategy now. That is not to say that everyone will benefit from China, but the ability to find benefits as part of a larger strategy needs to be explored especially in the light of reforms undertaken by Chinese authorities.
12 Pages(3000 words)Essay
Chinese Economy
As a result, there are numerous complaints in the World Trade Organization (WTO) that invariably rules against China's policy that proves costly and counterproductive to its handsome gains resulting from its WTO membership. In June 1980, the Ministry of Foreign Trade and Economic Relations enacted the "Interim Rules on the Export License System." The document stipulated that firms that engage in export business must file in advance applications to the Ministry of Foreign Trade and Economic Relations or the foreign trade administrative departments under in the various provinces, autonomous regions and municipalities directly under the central government that have been authorized by Ministry
4 Pages(1000 words)Research Paper
Chinese Economy Case Study
Both EPZs and SEZs promote investments in export oriented activities but SEZs have become a prime catalyst for regional development in China. This is because of their diverse products and services. Asian EPZ's restrict their foreign investments to manufacturing.
3 Pages(750 words)Case Study
Advanced Technology
Some of the parts have to be outsourced and some are found in home itself from scrap wooden furniture or steel products, which could be recycled while manufacturing a new
5 Pages(1250 words)Essay
Progress Of Chinese Economy

Reforms in the financial architecture of the country would certainly help since they would allow the country to have a more flexible exchange rate and revamp the banking sector. These measures have to be taken since China is not without its own problems which are political, social as well as economic.

1 Pages(250 words)Essay
Chinese economy
China’s economy in this period was stagnant and growth was negligible. The technological backwardness and its rigid political and social structure of China in that period allowed the major European powers to penetrate its economy. These powers imposed unequal Treaty
2 Pages(500 words)Essay
Advanced Internet Development
Making a website “sell” is not a simple thing and their certain strategies that need to be in place to make it successful. The first thing that a web designer needs to consider is a means of getting people to their website, which is mostly referred to as
8 Pages(2000 words)Essay
Let us find you another Essay on topic Advanced Technology the Key to the Chinese Economy Development for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us