What are the Impacts of the New Anti-Corruption Campaign to China - Coursework Example

The paper "What are the Impacts of the New Anti-Corruption Campaign on China?" is an engrossing example of coursework on macro and microeconomics. Corruption is very rampant in china and the practice has been propagated mostly by traditions and the Confucius form of government that is witnessed in China. There have been campaigns in the past aimed at ended this vice in china but they have not been intense as the new one. After assuming the reigns in 2012 CPC secretary general Xi Jinping embarked on a process of reforming the system by launching an anti-corruption campaign that was aimed at reducing corruption at the same time regulate extravagant government spending in state dinners and travels. This is the most intense reform campaign that has been witnessed since the Maoist era. The paper focuses on the impact of the anti-corruption campaign on economic growth. The anti-corruption campaign is expected to impact negatively on areas such as investment and consumption of imports, especially luxury products. Nevertheless, the campaign though it has slowed economic growth, it is receiving wonderful reception among the people of China and it can be argued by economists that it will enhance equitable distribution of wealth. However, there are feelings that the campaign is a political weapon against those individuals who are against party policies. What however remains to be seen is whether Xi’s campaign will be a success or a failure just like his predecessors.

Since 1978 when Chinese authorities initiated the process of implementing policy reforms, corruption has been a serious social and political issue in China. The substantial corruption challenges in china are deeply entrenched in cultural traditions as well as the intricate transition conditions in the country. The issue of corruption is growing significantly in the political context in China and it is stretching to the international scene thus attracting extensive attention from the international community. Corruption is said to be a hindrance to economic growth and in this view bureaucratic corruption tends to be a notch higher in nondemocratic governments such as China because of limited political competition and public outcry (He, 2000).