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

What has been the role of international trade in the development of China in the past two decades - Essay Example

Comments (0)
The People's Republic of China is one of the most emerging superpowers since last decade. Historically speaking China is of the oldest civilizations with the records of dating back about 3500 years. Since its establishment China has fostered and nurtured foreign relations very wisely…
Download full paper

Extract of sample
What has been the role of international trade in the development of China in the past two decades

Download file to see previous pages... Hence the people who were a victim of such social conflicts since two generations had a hope to prosper themselves despite of a weak economy caused by high inflation and their distorted homeland and transportation links. Therefore the Soviet example was embraced as a new political and economic model.

Hence in early 1950's a new reconstruction program was taken up in economic and social areas. The new leaders were focused to restore economy, rebuilding war damaged areas and implemented leaderships in women, labors and other mass organizations as well. All this was done and attained through the control of politically loyal government sectors. In 1958, Mao announced a new economic program called "The Great Leap Forward" which was aimed to prosper the economy through industrialization and agricultural productions. Though The Great Leap Forward was not that fruitful the Chinese didn't lose hope and still worked hard to strengthen their agriculture and industry sector (OECD [1], 2006).

It was in 1979 then when China rehabilitated and opened its economy and adopted more pragmatic approach on political and socioeconomic matters. This economic transformation had a reflective impact not only in China but on the world too. From the last two decades China has implemented market - oriented reforms which resulted not only in the largest reduction of poverty but also attained fasted growth in income levels as well. As a fruit of this hard and headstrong labor China today is the fourth largest economy in the world and has sustained an average economic growth of over 9.5% for the past 26 years. In 2006 its US $ 2.6b trillion economy was about one-fifth the size of the US economy. However by the late 1980s the economy was worked up with increasing rates of inflation. Due to which Austerity Program was introduced by the government of China by the end of 1988 (OECD [1], 2006).
In early 1990s China's economy regained momentum. Deng Xiaoping a dominant leader of that time, in early 1992, made a series of political pronouncements designed to revitalize the economic reform and hence 'Social Market Economy' was formed. This resulted in a 10 year plan in the political system with bolder reform of the economic system. China is the world's most populous country. It is one of the largest producers and consumers of agricultural products. China is among the largest producers of rice, corn, wheat, soya beans, vegetables, tea and pork. And its major non-food crops include cotton, other fibers and oil seeds. Over 40 % of China's labor is engaged in agriculture though only 10% of the land is suitable for cultivation. Due to which its GDP contributes 13% because of agriculture. According to a survey China's cropland area is only 75% of the US total but still produces 30% more crops and live-stock than the US (Guo, 2006).

Industry and construction comprises of 46% of China's GDP. Iron, steel, coal, aluminum mining, ore processing, machinery, textiles, apparel, cement, petroleum, fertilizers and chemical are foremost industries of China. Consumer's products have a wide range including toys, electronics, foot wear, automobiles and telecommunications. China's strength as an export-platform has contributed to increased incomes and employment. About 40% of GDP is the stases-owned sector. The chief driver of China's rapid economic growth is governed by the exports. For this China has pursued policies such as fostering development of foreign invested factories. Foreign invested factories assemble imported materials (components) into consumer goods for export by ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
International Trade
Since few decades countries all around the world is taking steps towards trade liberalisation allowing free movement of goods and services among them. They are reducing limitations, and in turn facilitate trade between them. Economic integration at regional as well as at global level through trade and investment are becoming a dominant development strategy across the continent.
10 Pages(2500 words)Essay
Economic development of India and China
Economic development of India and China. Introduction The economic growth of China and India has triggered much interest in the world. Economists have had extensive arguments and counterarguments on how the Asian economic giants managed to grow and cut a niche for themselves in the global economy.
7 Pages(1750 words)Essay
Is China a 'rule maker' or a 'rule taker' in the international system
With the growing power of China, China would seek to alter the international institutions fundamentally and would replace them with the new institutions. Neoliberals, on the other hand place their focus upon the lack of comfort of the authoritarian regime of China with a multi-stakeholder system to predict the direction in which change would be pursued by China.
16 Pages(4000 words)Essay
International Trade Essay
The above mentioned three categories are still an important source of differentiation among the economies of the world. The paper will discuss how these notions play important role in providing different benefits to countries as compare to others When countries cannot produce particularly desirable goods at all, the advantages of foreign trade are obvious.
6 Pages(1500 words)Essay
How does an Australian company benefit from China entry into the WTO and the Free Trade Agreement between Australia and China a legal point of view
Even though China argued for the special right entitled to the developing countries, China stands in a class of its own, as it has made its own cozy
16 Pages(4000 words)Essay
tment related challenges and supply side constraints”.1 The debate relative to Aid for Trade within the World Trade Organization (WTO) is significant because it engages questions about how much aid, the recipients and the purpose of the trade.2 Ultimately, there is a risk
14 Pages(3500 words)Essay
Chinas Speedy Development in the Past Three Decades
China has since then attracted attention from investors to become the world’s second largest economy and largest holder of foreign exchange reserves, thus sustained economic development.
3 Pages(750 words)Essay
China, India and Japan all face significant challenges with regard to their technological capabilities. What are these challenges and how likely are they to be overcome over the following two decades
As emerging economies, China and India’s technological capabilities is highly depended on technology imported from western countries. This is a
12 Pages(3000 words)Essay
Trade and investment issues between China and other econmies
Industrial production investment and the education of its workforce were also encouraged (Zhuli and Mohsin, par. 1). The strategy has worked outstandingly by all accounts. Before 1978, China
10 Pages(2500 words)Essay
Comparison of US and China patterns of trade
Categorically, China, the United States, and EU have different patterns evident in their approaches and decisions on exports and imports. For instance, China seeks to export more textile and clothing products to substantiate its labor-intensive industry, as well as abundance presence of labor in China.
10 Pages(2500 words)Essay
Let us find you another Essay on topic What has been the role of international trade in the development of China in the past two decades for FREE!
Contact us:
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