The Promising Future of Chinas Economy Essay - 960 Words

The Promising Future of Chinas Economy If Chinas economy grows as fast for the next 20 years as it has for the past 14, it will be the biggest economy on earth: I feel that Chinas drastic improvements over the last 14 years are overwhelming, with their Real GNP growing at a rate of 9% a year, which means by, 1994, Chinas economy will match the performance of countries like Japan and Taiwan. Chinas standard of living has also increased, and the number of people who were considered absolutely poor decreased approximately 63%. I feel with the vast amount of people living in China, and the economic activity booming like it is, Chinas exports will continue to grow, as well as the standard of living. This will†¦show more content†¦Market Splintering: l feel that China should allow labour to become freer, because this will allow workers to be better suited towards their jobs, and therefor they workers will be more effective. Infrastructure: l believe that China has to build a railway system, so it will not have the highest utilisation rates for freight traffic. l also believe that China should give incentives for students to enter higher education. Government Finance: l think that the government should stop making up for losses of state-owned firms, and stop paying subsidies to these firms and consumers, hence the budget gap would be more than closed. Why privatisation may not be needed: Privatisation in many cases may not be needed because the government supports many businesses and purchases their products. If the companys are open to the market, many jobs will be lost. If foreign ownership buys it up, many jobs will also be lost, as well as many profits and products. State owned firms are not ready for the market, because they are geared for the bureaucrats and not customers. They are more concerned with the welfare of the employees rather than efficiency. In the past, communism led to low productive workers, because the more profits they made, were taken from government. Now things have changed, the more the retained earnings, the more the employees receive inShow MoreRelated Leonard N. Stern School of Business at New York University (NYU)573 Words   |  3 Pagesaccess to China’s 1.2 billion consumers. From farmers to filmmakers, American businesses are expected to benefit from the new opening markets. China’s ascension to the World Trade Organization (WTO) is a guarantee to the rest of the world that they can expect certain things from China’s economic and commercial behavior. The WTO agreement will lead to an eventual boom to the U.S. economy and a spur to Chinese economic reforms, with estimates that it could lead to a doubling of China’s global tradeRead MoreEssay On Chinas One Child Policy761 Words   |  4 Pagesresources, even in such a large nation, there had to be an even larger change. China’s one-child policy was a remedy to this problem, and helped Chinese citizens in many ways. Without the policy, China would have many economic problems and serves all of China with its rules. China’s one-child policy was an excellent idea for China and its people because of the evidence that suggests that it will keep population in-check in the future, that it creates a society with less gender standards and more equalityRead MoreEssay On Chinas One Child Policy766 Words   |  4 Pagesresou rces, even in such a large nation, there had to be an even larger change. China’s one-child policy was a remedy to this problem, and helped Chinese citizens in many ways. Without the policy, China would have many economic problems and serves all of China with its rules. China’s one-child policy was an excellent idea for China and its people because of the evidence that suggests that it will keep population in-check in the future, that it creates a society with less gender standards and more equalityRead MoreChina’s evolving geopolitical role and its participation in the WTO.1419 Words   |  6 Pagesï » ¿Critically analyze China’s evolving geopolitical role and its participation in the WTO. China’s evolving Geopolitical Role: Introduction: In terms of geopolitics, it was been observed that China is among the three great powers, beside the United States and the European Union. According to O. Tuathail, 1996; Agnew, 2009, critical geopolitics intends to understand world politics in terms of the ways in which elites and publics actively construct the spaces of political action that areRead MoreCleaning Up China, By Rana Foroohar1365 Words   |  6 Pagesprovided a model Foroohar calls it a â€Å"playbook† for how to quietly disrupt the government’s business as usual and effect the change needed by appealing to the concerns of China’s growing middle class. This playbook not only helps people understand how the system works but also visually shows the impact it has on China’s overall economy. Ma notes that the government does have laws intended to protect the environment, but stated that major companies would rather pay a fine than shut down their operationsRead MoreRussia China Energy Relation s : A Comprehensive Overview Essay1592 Words   |  7 PagesEnergy Relations: A Comprehensive Overview The future of Russia-China engagement and competition in the energy sector will largely depend on Russia’s ability to maximize its strategic and economic position in the Asia-Pacific region. Northeast Asia is home to China and Japan – the world’s second and third largest economies by GDP, respectively – and also â€Å"boasts half the world’s population [and] includes many of the key engines of the global economy, as well as the largest emitters of greenhouseRead MoreThe Chinese Stock Market1223 Words   |  5 Pagesintervention is setting China up for future trouble. Since opening up its market to foreign trade and free market returns in 1979, China has been one of the fastest growing economies, with GDP growth averaging nearly 10% through 2014. China is a major global economic leader, and is the world’s largest economy (purchasing power), manufacturer, merchandise trader, and holder of foreign exchange reserves . The economic financial crisis in 2008 had a large impact on China’s economy. Growth slowed, exports declinedRead MoreChina Between The Republic Of China1661 Words   |  7 Pagesrelatively low underclass population (1.5 percent of the population). In 2016, her foreign exchange reserves are estimated to reach the world’s top five, at approximately 433.5 billion US Dollar (Waldron, 2016). However, the rapid development of China’s economy and her enormous market potentiality give the Chinese government leverages to influence Taiwan’s international relationships; in fact, Taiwan’s exports to China, Hong Kong, and Macau combine more than one-third of her total exports, and BeijingRead MoreHow The End Of Cheap Energy Affects Greenhouse Gas Emissions Essay1342 Words   |  6 PagesOn the first day of my Political Economy class, I was introduced to the concept of limited resources. Conventionally-extracted fossil-fuels (oil and natural gas) are likely to have supply shortages in the near future. Although coal and unconventional resources are possible alternatives, reliance on emission-intensive resources can be problematic to our low carbon budget. The Fifth Assessment Report by the Intergovernmental Panel on Climate Change (2014) presented four emissions pathways. The 2015Read MoreThe First Opium War And Its Effects On China1407 Words   |  6 Pages just a war, the results created a deep impact on China and the Western World. For hundreds of years, China had isolated themselves from the world and from foreign trade, but a single dispute over trading rights led to a huge war, which dictated the future of China. The first Opium War was because of the trade imbalance between England and China. This paper will discuss what caused the first Opium War and its after effects on China. China had long been aware of opium as a medicine, and its addictive