Impact of Chinas Rise on the Asian and Global Economy - Thesis Example

With strong exports and vivid participation in foreign trade, China has become a formidable economic power with a strong potential for expansion and growth With China’s emergence, the Asian economy has also gained notice from the rest of the world. In fact, many of China’s investments have been directed towards other countries in Asia and these countries in Asia have also benefited from China’s rise. In some ways, China has helped in Asia’s emergence as an improving economy also in relation to the Western economy.

 Secondly, it shall also discuss the different how its economic rise has impacted on other countries in Asia, specifically the ASEAN-4. Thirdly, it will consider how China’s impact on these states and how it has helped them be more economically competitive and viable in relation to the global economy. Lastly, this paper will summarize and conclude the discussion and consider how its overall conclusions impact on the future of China and Asia in relation to the global economy. This study shall refer to China’s general impact on the economy of Asia, specifically the ASEAN-4, without excluding other Asian nations relevant to this discussion.

This paper is being carried out in order to establish a clear and comprehensive discussion on the economy of China and its overall impact on Asia and other developing countries. Future trends will hopefully be established through these discussion points.Phase one of the reforms started in the countryside where he allowed the farmers to produce their own food and then to sell the surplus products into the markets (Ianchovichina and Walmsley, 2003). State procurement prices were increased and the Household Responsibility System ensured that farmers could lease land for a particular period from the collective, as long as they delivered a minimum quota to the collective.

The surplus could then be sold to the government or to the free market (Ianchovichina and Walmsley, 2003).