The Political Economy In China

Political economy is a fascinating subject to study. Politics and economy are two of the most important components in today’s world. They decide how people live, think, and work from the dawn of the humanity. Our civilization is built on these two components. The economy decides the political system, regime type, and electoral system. On the other hand, politic influences the economy. They have a reciprocal effect on each other. I am from China. Chinese economic system is so unique that countless scholars embarked on researching and trying to find implications for the rest of world. In late 1970s, the “chief designer” of Chinese economic reform Deng Xiaoping took decisive action which vitalize Chinese economy and convert this old country into

The Soviet Union held the communist ideology. Their command economy failed and the great USSR collapsed in the 1990s. From the history lesson, we have acknowledged that one single approach to the economy cannot solve the problem and make the market prosperous. The world is changing continuously, thus the economic policies should also be changed frequently to coordinate with the new norms of today’s world. After the 19th CPC Congress, the Chinese government has stated clearly that the economy need to be reformed again to solve the new Chinese society principal contradiction which is the contradiction between unbalanced and inadequate development and the people’s ever-growing needs for a better life. New contradiction requires new solutions. The proper economic policies are the urgent need for not only China but also other countries. This is important to me and important to everyone else. Policies matter the life quality of people and the future of our generation. Back in 1990s, Thailand neglected the potential threat of destabilizing speculation and continued pegging the baht against dollar eventually resulted the bankruptcy of

Therefore, Political Economy is the most suitable program for me. I wish one day I am capable of diagnosing the potential threat of the economy and conduct effective resolution in avoiding and solving these dangers. Georgetown University’s Political Economy program offers comprehensible curriculum which can help me to achieve my aim of life. Georgetown University 's Political Economy program not only focus on the domestic side but also in foreign countries. It has a vast scope of analyzing targets that cover both developed and developing countries. For example, the class of U.S Political System will provide students an in-depth comprehension of the political system of the most powerful country today in the world. I believe this class will teach me the mechanism of how policies in the US will be conducted. These policies finally will affect US economy and even the world’s economy. The class of Element of value more about the empirical approach, I still believe that theories are the bases of every subject. Study without theories is like sailing on the sea without the compass. Economic Statistics and Econometrics offer the students the toolkit of analyzing an economic