The effect of liberation on economic growth of China - Essay Example

Comments (0) Cite this document
Under global trade regime countries get the chance to indulge itself in specialization in the sphere of production. Global trade allows country to specialize in those goods, which they are capable of producing in…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.9% of users find it useful
The effect of liberation on economic growth of China
Read TextPreview

Extract of sample "The effect of liberation on economic growth of China"

Download file to see previous pages After setting up of WTO with an aim to enhance international trade to a large extent by demolishing all kinds of trade barriers imposed by individual countries, the member states of WTO has been making extensive efforts to liberalize their trade with each other and with other countries as well. China is not an exception. In the china, efforts to liberalise trade by reducing different trade barriers have been started to be undertaken since the initiation of economic reform in this country during the decade of 1970s.
Theory suggests a close link between foreign trade and economic growth. There have been a large number of theoretical and empirical works, which have tried to examine the link between international trade and economic growth. While a number of studies have found a positive association between enhanced international trade and economic growth, a large number of studies have also refuted the claim on the basis of their research that international trade facilitates economic growth. (Edwards, 1993)
In the present study the case of China will be taken under consideration, as china has become one of the most powerful and rapidly growing economies in the present world. It would be very interesting to see how trade liberalization has affected economic growth in China. For this the period of 1970-2007 will be taken under consideration, as it was only in the decade of 1970’s (late 1970’s) when China put emphasis on the issue of trade liberalization as one of its economic reform policies. However, in this context, one thing should be mentioned that trade liberalization got a huge boost in China during 1990s as it was making its path easy to became a member of WTO during this period.
Trade liberalization basically implies reduction in the tariff rates and removal of non-tariff barriers. Since late 1970s china has started to undertake several measures of trade liberalization to increase its foreign trade. This paper will ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“The effect of liberation on economic growth of China Essay”, n.d.)
Retrieved from
(The Effect of Liberation on Economic Growth of China Essay)
“The Effect of Liberation on Economic Growth of China Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The effect of liberation on economic growth of China

China Economic Growth Since 1949

..., connected China to global markets, and resulted in critical exchanges of technology. Most of these trends are specifically apparent within the several dozen open coastal places that foreign investors love tax advantages. Additionally, economic liberalization has enhanced exports that rose 19 % annually during 1981-94. Effective export growth, consequently, seems to have motivated productivity development in nationwide industries In a single ultimate area ‘cost reform’, the Chinese have proceeded very carefully, giving a reasonable sum of autonomy to manufacturers of consumer goods and farming products still significantly less with other sectors. A...
9 Pages(2250 words)Research Paper

International trade and economic growth of China

...? International trade and economic growth of China: How the Dragon has transformed itself into an efficient growth machine through international trade October 29, 2012 Table of Contents International trade and economic growth of China: How the Dragon has transformed itself into an efficient growth machine through international trade 1 October 29, 2012 1 1. Introduction 3 2. Chinese Economic and Trade Growth 4 3. Discussions 13 4. Conclusion 15 References 15 Appendix 16 1. Introduction The Peoples Republic of China is the world’s second largest economy...
11 Pages(2750 words)Essay

Economic Portfolio - Economic Growth

...Economic growth: In every economy, there are always four main macroeconomic objectives which are, price stability, economic growth, balance of payment and full employment. To achieve this objective, both fiscal and monetary policies have to be implemented. Normally for any particular economy, both social and political problems are the key factors relevant in achieving all the four objectives. Fiscal policy refers to expenditure and taxation policies central government, that are implemented by the ministry of finance through special agencies, directly or through area ministries, where as, monetary policies are the government’s regulations of the interest rate level and...
3 Pages(750 words)Coursework

China Versus India Economic Growth

...? China versus India Economic Growth China versus India Economic Growth In the recent times, there are two main successes that stand out; China and India. These two nations are just by their size, economic giants, and as they grow in the recent years, it is quite obvious that their continuous transformation will have significant effects, not just to them but the entire global community. China’s economy is highly developed than that one of India. While India is the 11th biggest economy in terms of the various exchange rates (Chow, 2001). China takes the...
4 Pages(1000 words)Research Paper

Economic growth

...goods are produced and everyone has more goods for consumption and as a result living standard in the economy increases. This is why economists rate economic growth as a matter of great importance. We can use the 70 rule to determine the effect of difference between 2.5 and 3 percent of economic growth over few decades. If economy is growing at 2.5%, the economic growth or total output will double from the current level in 70/2.5= 28 years. However, if the economy is growing at 3%, the total output will double in 23 years. This means that even a mere difference of some points or minute figure could mean that economy...
1 Pages(250 words)Assignment

Economic Growth

...of economic growth in 2 countries 1. China and India, these are the countries where most economists see the economic power houses of the future, they suffered less during recession and are the ones rebounding strongly. Their spectacular growth if seen over this period (in China’s case by becoming center for low wage manufacturing and exporting, in the case of India there is a need for emphasizing services) that has set the stage for change in the world wide economic balance of power. Which of Asian countries will dominate the future is the subject of much debate. (global data) Country’s strong productivity is the major...
4 Pages(1000 words)Assignment

Economic Growth

...tremendous growth to over $450 billion from 1990-2005. China is the largest developing country that has most FDI since 1992. Around 35% of foreign direct investments that flowed to developing countries went to China. The openness of an economy is vital in terms of trade liberalization. The more economies encourage more FDI. However, other than liberalization of trade, financial liberalization also played a vital role in sustaining capital inflows. Countries with high inflows of foreign direct investments experienced increased demand for skilled labor that make them move towards to a more labor extensive economies hence creation of more...
6 Pages(1500 words)Assignment

Economic growth

... but poor living standards are ranked high while those with poor quality education and high living standards are ranked low. As such, the article singles out education as the main contributor of the national development. References Pinar, M. , Stengos, T. , Topaloglou, N., (2013) . Measuring human development: A stochastic dominance approach. Journal of Economic Growth, 18 (1), 69-108.... is limited in that it ignores the relationship of the attributes that are used to construct it. As such, two countries can have the same HDI but have different levels of education standards or health care. In order to eliminate the limitations of the HDI and traditional models that are used to measure human development, the article proposes a new model....
4 Pages(1000 words)Essay

Economic Growth

...any economic challenge facing the people. In addition to that, the governance should ensure that it is honest to it citizen, that is, all revenues collected must be used appropriately. Provision of basic need, for instance, is fundamental for better economic growth and this should be a key concentration to Singapore as a nation. A healthy people has energy to work and make their life better as compared to a nation that is starved (Peebles & Watson, 10). Also, Singapore should educate its citizens, this is because, with education comes innovation and creativity that enables efficient production of goods and services hence economic growth. In addition to...
8 Pages(2000 words)Essay

China's economic growth

...China: Trade Policy and Economic Growth China: Trade Policy and Economic Growth A-2 Trade Policy In order to really understand the trade policies that China has developed its good to look at countries like Saudi Arabia and the nations of Africa. China has been building relationships for 50 years that are only now beginning to show the fruits of those relationships. When China first began creating foreign policies and relationships of Africa, as an example, it was with the intention of creating ideological influence. However, China has now put into place five principles...
4 Pages(1000 words)Research Paper
sponsored ads
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.

Let us find you another Essay on topic The effect of liberation on economic growth of China for FREE!

Contact Us