Over the last three decades, China has experienced extraordinary economic growth and development and has been successfully integrated into the global economy. Now ranking as the second largest economy in the world, China’s success has been greatly attributed to the gradual shift towards market systems. Though the overall economic system of China has been significantly revolutionized, the political regime has remained inherently authoritarian and the government essentially monitors the capitalistic practices that occur in many sectors within the country. Nevertheless, this powerful augmentation of the Chinese economic system and the fervent expansion of China’s role in the global economy and political stage has presented the United States with various challenges and risks that could potentially threaten the economic and political powers the United States retains on a global scale. At this time, the economic affiliation between the United States and China is indispensably beneficial to both countries as their trade relations generate hundreds of billions of dollars in profits between the two every year.
The globalization of the world economy has had an amazing impact on all nations over the last 20 years. The change has not only in the expansion of finance and trade, but also literally in every area of both public and private life, especially Education. Due to the influence and changes that globalization has fostered, education in China has entered a historical transition of its own. The transformative power of globalization has not only changed economics and politics around the globe, but with interconnectedness of this worldwide system, it has also brought huge challenges and opportunities to high school students in China. Objective of the Paper The real great leap forward for China was not the failed economic and social transformation
Duty exemptions liberalized imports for the production of goods, quotas on the export of textiles and clothing was removed and the expansion of labour-intensive industries provided increased wages for locals. (Ianchovichina and Martin 2001) "Foreign trade plays a more prominent role in the Chinese economy than in most other large economies: its exports-to-GDP ratio is about 37 percent" (Wu 2009 p40). As the demand for goods increases among trading regions a lot of focus revolves around China as a low-cost assembler, this involves the receipt of components from the US or Europe. In order to facilitate this growth China has expanded and improved their railway lines to operate at maximum speeds, roads and
“According to the economic policy changed and market reform by Deng Xiaoping in 1992, the Chinese communist party leaders have now publicly acknowledged the positive contribution that entrepreneurship can bring to the country’s development.” (Puffer, S. M., McCarthy, D. J., & Boisot, M. (2010). Chinese government policy supports the mass entrepreneurships by optimizing fiscal and taxation policies to reduce difficulty and uncertainty in infant industry business. It makes easier for entrepreneurs to raise fund and gain enough financial support in the start-ups. Moreover, “government reduce taxation burden for small-medium size enterprise such as cut down the income tax to 18% for those enterprise with annual profits around $12,000, therefore with the increasing size of small and medium firms, it brings more job opportunities, simulates economic growth and promotes technology innovation in the market.” (Chen, J 2006). The policy also encourages innovative business development in new market area by enhancing the intellectual property protection and extended accessibility towards financing and outsourcing for entrepreneurs, “the enhance of protection of property rights are crucial for the entrepreneurs who need to rely on the security of their
Impact of economic reforms on Chinese urban and rural population China’s economic reforms have brought about dramatic economic growth. According to Chow (2004), “the average rate of growth of real GDP in the first two decades of reform was about 9.6 percent annually.” However, the reforms have also contributed to an increase in inequality within China. This is supported by the estimates Wang (2008) drew from the World Bank which show that China ranks third in income inequality in the world in terms of the Gini index in the 1990s. The economic reforms began at 1978, which saw a rise in private sectors. Prior to the reforms, more than 95% of the urban population work in state-owned enterprises (SOEs) and collective sectors (Wang, 2008).
This chapter will examine the key characteristics of FDI in china; it will evaluate the source of FDI by countries or regions in China, FDI distribution by sector, and the geographical allocation of FDI in China. Following the adoption of the open economic policy reforms, in the late 1970s, FDI has experienced a surge from almost zero to US $ 40-45 billion annually inn 1990s. This is attributable to Deng Xiaoping’s reaffirmation of the continued government support of the open economic policy. This occurred when he personally paid a visit to the coastal areas in the south which led to an aura of confidence and entrepreneurship spirit among the foreign and domestic investors. FDI inflows continued to increase but there was a small decline following the Asian financial crisis it was back on the increasing radar in 2000 due to China’s WTO accession in part.
It has proved extremely beneficial for the Chinese market and helped the growth of the market. The whole world is shocked with the rapid growth of china globally as it has played a vital role in this arena. According to Dauderstadt M， (2005), had confirmed that China had become a power house. Prior to this, China was against globalisation and in the past refused to communicate or cooperate with global companies due to government orders. Globalisation has certainly had a positive impact on the Chinese economy and today the Chinese live a very different life to the past.
Introduction In the past two decades, the economic growth of China were increasing continuously. However, the drastic increase on the economy does not represent that the living quality of all Chinese residents has also improved apparently. Some of the residents may not benefit a lot from the economic gain, for example: the Chinese children. Actually, the problem of child labour in China is quite serious. This report begins by examining recent statistics relating to the problem of child labour in China and then analyses the factors contributing to the problem of child labour in China.
Compared with earning wealth and fame for myself, I would rather make contributions for the development of the whole society, because that can bring me more sense of satisfaction. Thus, the future prosperity of China concerns me. Apart from that, the rapid development of Chinese economy has a profound influence on China’s relationship with other countries and many aspects within itself, among which law takes an essential place. I took participated in many volunteering activities, from taking care of autism children and left behind children to teach adults English. From these experiences I developed a strong sense that although economic prosperity plays an important role in society, yet what makes the public have the sense of happiness relies on the solid protection of their rights entitled by various laws in China.
Introduction China has witnessed tremendous change in its social sector during the span of last several decades. Generally, China’s social sector has experienced four stages of development since the country was established in 1949 (Deng, 2013). The first stage, from 1949 to 1966, is viewed by Deng and other observers as the forming period of Chinese social sector; a large number of sizable the organizations in the social sector were founded, most of which worked on issues related commerce, arts, science and technology. 1966—1978 is identified by Deng as the second stage — the lag period; the Cultural Revolution stopped most organizations from functioning and prevented new social actors from emerging. After the lag period, the redeveloping