China's Spectacular Success In Recent Years

1205 words - 5 pages

China's development is praised by the whole world. Its developments are not only in the economic aspect, but as well in its foreign affairs. Compared with other developed countries, China is a relatively young country. It began constructing itself in 1949. After 30 years of growth, company ownership had experimented unprecedented changes. On the whole, non-state-owned companies can now be more involved in sectors that used to be monopolized by state-owned companies.
Its phenomenal success is because it developed some suitable public policies, which were fit for the situation of China. In the last few years, China has had a remarkable economic development and has come to play an increasingly significant role in our world economy.
For a long time, the Chinese economy was a centrally planned economy in which none other than the state owned all companies. In fact, there were absolutely no entrepreneurs. In 1978 China started its economic reform whose goal was to generate sufficient surplus value to finance the modernization of the Chinese economy. In the beginning, in the late 1970s and early 1980s, trade was opened to the outside world and the Contract Responsibilities System (CRS) was implemented in agriculture. The CRS gave farmers the right to make independent decisions on using a small piece of contracted land. This new system resulted in eight hundred million farmers gaining the decision-making power on farmland management. The household Contract Responsibilities System helped China’s agriculture step out of the long-term predicament it was in. The agricultural business grew fast toward specialization, commercialization, and socialization. Another positive outcome that resulted from the CRS was the Township-Village Enterprises that thrived from the Chinese farmers. These Township-Village Enterprises set up factories in the countryside, so the peasants could work at the factories as well as work on the land. In China at that time, most of the people were peasants, so this policy generated a lot of them to get employed. Even today, more people live in the countryside compared to those people who live in the city. All in all, the Township-Village Enterprises contributed a lot to the development of China during the reform.
By the end of the 1980s China had almost solved its food shortage problems. Around the same time, in 1990, China established the Special Economic Zones. Briefly, a special economic zone or SEZ is a geographical region that has economic and other laws that are more free-market-oriented than a country’s typical or national laws. Basically, “nationwide” laws may be suspended inside a special economic zone. The classification “SEZ” covers a broad range of more specific zone types which include for instance Export Processing Zones (EPZ), Free Trade Zones (FTZ), Industrial Estates (IE), Free Zones (FZ), Urban Enterprises Zones, Free Ports and the list goes on. It has been suggested that these special economic zones are probably...

Find Another Essay On China's spectacular success in recent years

People Resourcing - Discuss some of the significant developments that have taken place within the world of work in recent years

2298 words - 9 pages In this paper I will be discussing some of the significant developments that have taken place within the world of work in recent years in particular changes in flexibility such as, age structure, diversity, the use of non-standard contracts, and changes and differences in particular labour markets. Other developments I will be discussing are changes in work life balance and technology. In relation to these issues I will be examining the impact

Examination and Critical Discussion of BHP Billiton’s response to the Appreciation of the Australian Dollar in Recent Years

4459 words - 18 pages of the Australian Dollar in Recent Years 1. Executive summary 2. Introduction 2.1 BHP Billiton BHP Billiton Group is a diversified natural resources group engaged in mineral exploration and production (Datamonitor 2011). The company is leading in resources specifically in sectors of petroleum, aluminum, base metals, diamonds and specialty products, iron ore, manganese, metallurgical coal, energy coal, stainless steel materials, etc. As at

Essay Title: If free trade is so advantageous to everyone, why have many countries attempted to increase protection for their own industries and farms in recent years?

1127 words - 5 pages into our homes, places of work and recreational venues. Although trade has benefits on countries, in recent years, many countries attempted to increase protection for their own industries and farms so that keep them away from free trade. This essay will explain what free trade is and state what the problems of the free trade are and the possible reasons why many countries have attempted increase their trade protection.Take UK as an example, the UK

Success of the Council of Trent in the years 1545-1563 in Tackling the Problems Confronting the Catholic Church

1554 words - 6 pages Success of the Council of Trent in the years 1545-1563 in Tackling the Problems Confronting the Catholic Church The council met over a period of eighteen years, in this time there were three distinct periods in which there were a total of 25 sessions. There were several problems with the Catholic Church which needed to be sorted out, this including doctrine and discipline. The council met to sort out this problem which had

Have children’s behavior become worse in these recent years?

1678 words - 7 pages , instead let’s try to help all the children improve their behavior. We all want to have a brighter future and in order to accomplish this we have to help our children’s behavior. Works Cited "Is child behavior better or worse than it was years ago?" 05 2012. 2012. 05 2012 Schultz, Frank J. “Children behaving badly: Has it gotten worse?” April 29, 2012. Web. April 8, 2014. Nokali, Nermeen E. El. “Parent

What is stem cell research and how it has come about in recent years

889 words - 4 pages organisms, stem cells and progenitor cells which act as a repair system for the body, replenishing specialized cells.Stem cells were really first discovered almost fifty years ago by a man named Leroy Stevens. When he was working at the Jackson Laboratory in Bar Harbour, he found a lab mouse with unusually enlarged scrotum. When he examined the mouse, he discovered that there had been a tumour inside of its scrotum that contained various tissues

The Effects of Globalisation on China, A Developing, Newly Industrialised Economy

2383 words - 10 pages IntroductionSo far as the People's Republic of China (hereafter China[1]) is concerned, the process of globalisation may be said to date from December 1978, when Deng Xiaoping introduced a number of farreaching economic reforms. Most importantly, Deng threw open China's doors in a bid to attract overseas investment and promote foreign trade. The success of Deng's outward-looking initiative is reflected, inter alia, in the country's spectacular

The Impact of China's Economic Reform on the Operations of International Firms

3268 words - 13 pages to enter China, as many of them worried that they would miss out the big potential market.The third stage was characterized by difficulties and problems. After several years of feverish activity, international firms started to grapple with the challenges of operating in China such as changeable regulations and irregular business practices.The fourth stage is the recent boom that came after China's WTO accession. Most international firms have

Forces and Influences shaping chinese stategic and security culture at the turn of the 21st century

1619 words - 6 pages agree China's military budget has grown in recent decades, however when expressed as a percentage of GDP and taking into account China's recent rates of inflation they have determined it to be proceeding at a "slow and moderate" pace of undue concern."As the United States Defence Department concluded:[China's Military] requires modernization and this should not be construed as hostile activity?Chinese purchases of Russian [equipment] ?should not

The Rise of China's Economic Growth

1722 words - 7 pages The economy has been a tough battle to fight and always will be a never-ending war for China as well as the rest of the world. China's biggest problem is the high population growth rate and finding enough food to feed everyone. During World War 2 food became scares and the government knew they needed to make some drastic changes for the country's wellbeing and in order to flourish in years to come.During World War 2 the People's Republic of


4691 words - 19 pages Xiaoping however, the impact of a new generation of security policy decision makers is being felt. The life experiences of these decision makers are fundamentally different to those of the previous generation, and in many cases they spent formative years being trained in the Soviet Union. Their experiences appear to have tempered the antipathy of China's leaders to their Russian counterparts, and provide one explanation for the recent

Similar Essays

Incarcerated Females In Recent Years Essay

2267 words - 10 pages The number of incarcerated females has increased tremendously in recent years. The female offender faces many obstacles while in custody and once released. Many female offenders suffer from a plethora of mental health disorders and substance abuse. Females who are plagued with co-occurring disorders which is also knows as dual diagnosis require additional services as their need is more harsh than those who have a single issue to

Why Has Improved Corporate Governance Become An Increasingly Important Topic In Recent Years?

1375 words - 6 pages Corporate governance has evolved into an important institute within recent years because of the highly visible corrupt and unethical practices of large and global companies such as Enron, WorldCom and Parmalat, the Italian dairy conglomerate. These scandals had left stakeholders and governments in a disorientated state.It has always attracted attention due to its apparent importance for the economic health of corporations and society in general

Why The Range Of Indicators Used To Measure Development Has Increased In Recent Years

756 words - 3 pages Why the Range of Indicators Used to Measure Development Has Increased in Recent Years Essentially the ideology of development was based on a countries GNP this was down to Rostow’s Model; therefore the only indicator of development was a countries economy. The ideologies have changed and now there are a range of indicators that are used to classify a countries development such as social, demographic, hence including

Outline The Effects Of Globalisation On The Australian Economy In Recent Years. Focus On Trade, Investment, Finance, Technology, And Labour

889 words - 4 pages In recent years, globalization has spread layers of influence in all directions of the world, including Australia. Globalisation is the growing economic interdependence amongst nations, as reflected in actual movements of trade, investment, finance, technology, and labour. Globalisation is not new, but the pace of integration of economies has quickened and economies are more closely integrated now than at any previous time. In many ways the