China s Economic Growth Essay - 1144 Words

Beginning in 1980 when China entered the global market, it experienced remarkable growth in terms of GDP and net output. Much of its growth is attributed to its large amount of exports, particularly within the manufacturing industry. As a result, its GDP per capita increased significantly and the country as a whole became considerably wealthier. More recently, however, demographic changes and increased wealth inequality are hindering its growth. Between 2008 and 2015, the World Bank estimates GDP growth decreased from 9.623% to 6.9%. While its growth remains quite strong in comparison to other developing economies within its echelon (BRIC countries), its increasingly stagnant growth evokes concern for the future of its economy and prospects. Much of China’s economic disparities lie in the overall gentrification of the country. Much of China is rapidly transforming into more advanced, urbanized cities, while the majority of wealth is held in affluent metropolises such as Guangzhou, Beijing, and Shanghai. A study by Peking University found the poorest quarter accounted for less than two percent of total wealth in China. The same study also found that the wealthiest percent of China owned nearly two-thirds of all wealth. Inequality to this degree not only presents an ethical dilemma regarding the advancement of a select few, while the majority of china remains in a far more regressed state, but also reduces the resilience of the population to shifting economic trends. WhileShow MoreRelatedChina s Economic Growth1321 Words   |  6 PagesFor many years China has been the leading economic power in the world, even surpassing the United States. Recently, the country has been hanging onto that title despite its weakening economy. China’s economic growth has been declining due to job losses and lack of manufacturing. However, there have been numerous attempts to fix this problem. According to an article in the New York Times, China has created a new world bank — despite skepticism about that idea by other nations including the UnitedRead MoreChina s Economic Growth3241 Words   |  13 Pagesrecent rapid economic growth has astounded countries around the world, including the U.S. Domestic policies that improved incentives for economic competitiveness were one of the main reasons that China was so successful in increasing its Gross Domestic Product (GDP). â€Å"The combination of Chinese land and labor with the capital and expertise of Taiwan and Hong Kong industrialists provided a particularly important boost to exports and employment during the first decade of reform.† China attracted investmentsRead MoreChina s Economic Growth Mechanism1768 Words   |  8 PagesThe article of Yasheng Huangï ¼Å'named how did China take offï ¼Å'discussing on economic growth mechanism, mainly come to China’s economic reform had the process of financial liberalization. Furthermore, he pointed out that political reform, financial liberalization and the development of township enterprises are the key focus on China’s development. Huang argues that the results of China s economic development are mainly due to internal reforms which are the reforms of China’s rural industry. On the contraryRead MoreChina s Economic Growth And Development Essay990 Words   |  4 Pagesimmersed themselves in the discourse of China’s rapid economic growth and development. For a socialist regime, the emergence on China’s remarkable economic achievement has been one of the world’s most unprecedented success stories. Sai-leung Ng (2000) emphasized on China’s success, describing China as the country with the most rapid economic growth of the time. Paul Collier (2007) noted that individuals in the west were starting to get worried that China was converging to quickly with the western economyRead MoreIndia And China s Economic Growth1085 Words   |  5 PagesAbstract India and China, two populous countries (nearly one-third of the world’s population) in the world, have innumerable similarities in many aspects. Both of them sit on the Asian continent and achieve rapid economic growth in the past three decades. As current success stories of globalization, this rapid growth also influences the economic structure of the world which leads more concentration on the analysis of these two countries. Two Not Similar economies Different economies may have commonRead MoreChina s Economic Growth With Capacity And Influence941 Words   |  4 PagesSince the 1980 s China is a develop country that never stop until now, and will rise to dominate the world in the Twenty First Century. China has a big potential geographic realm, population and natural resource which not else has in the world. Based in China s economic miracle from oriented economy to open market it is presented a transitions economy with more orderly, established, and accommodating that could have been imagined for all of us. It started from zero economy level and will grow mayRead MoreChina s Sudden Growth And Rise Of A Economic Superpower1290 Words   |  6 PagesChina’s sudden growth and rise to an economic superpower has affected the worldwide economy, the worldwide environment, and its own private industry in ways that may have longstanding effects for the future. Prior to the nineteenth century China had the world’s largest and most advanced economy, but missed its industrial and cultural revolution and began to decay (Cao, 2003). China began its rise to a new economic superpower in 1948, in the wake of World War II. It had just emerged as its own independentRead MoreChina s Economic Growth Is Unstable, Unbalanced, Uncoordinated, And Unsustainable761 Words   |  4 PagesPremier Wen Jiabao argues the biggest problem with China’s economy is that its economic growth is unstable, unbalanced, uncoordinated, and unsustainable. Since export and investment play unsustainable roles in increasing China’s real GDP, this study tries to testify how consumption enhances the sustainability of China’s real GDP in the short run over a long period of time. As Krugman (1994) suggests, increase in the economic growth rate in the steady state can only be attained by the technological progressRead MoreVietnam Air Pollution And China s Economic Development And Growth2618 Words   |  11 Pages Chinese Air Pollution History of Air Pollution in China During the 1980s, China underwent a series of industrial changes leading to severe air pollution (Chen, Ebenstein, Greenstone, Li, 2013; Chen, Kan, Chen, Jiang, Hong, 2011; Kan, London, Chen, Zhang, Song, Zhao, Chen, 2007; Schmidt, Olicker, 2004). As industries in large cities expanded, the resources required to manufacture goods produced pollution in the air (Chen, Ebenstein, Greenstone, Li, 2013; Chen, Kan, Chen, Jiang, Hong,Read MoreChinese Economic Development And Structure Problem986 Words   |  4 Pages Chinese economic development and structure problem Key question: China s economy, (China s economic have increased of Efficiency Analysis .) China s economic high speed growth can be remained? PESTEL China s economic have increased of Efficiency Analysis . After Chine revolution , Chinese economic have increase very fast , take GDP for a example,after economic revolution , about annual growth rate have keep or more than double-digit , this is very crazy. However ,according to the explain