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Discuss The Rise Of China As An Economic Power

853 words - 3 pages

800 WORD ESSAY: DISCUSS THE RISE OF CHINA AS AN ECONOMIC POWERPowerful because of an inexhaustible labor and more and more trained, with considerable resources, China is becoming the new world superpower. Moreover in the international view, China does not cease being in the center of all the debates. Far from being exhaustive, this study has as an ambition to raise some doubts, interrogations and especially to cause the desire and, curiosity to discover the formidable growth of this country. Firstly, we will define and explain the socialism of the market and talk about some problems that China endures. Secondly, we will focus on economic flows between China and the rest of the world.The concept of "socialism of market" was launched by Deng Xiaoping, president of China, in 1992. It is about a controlled economy, which advances towards the liberalism, opening to the world step by step. The central economy remains controlled by the State, although the country tends towards a market economy. This passage of a planned economy to a market economy allowed important profits as well as in control the level of the importation as in exportation. "In the transition to a market economy, the working class is in the process of changing and restructuring" quoting Bill Taylor, an Associate professor in Public and Social Administration.The population of China counts approximately 1.26 billion of habitants, or 20% of the world population. Furthermore, China constitutes the largest market and the most gigantic reservoir of labor in the world. Classified among the principal world producers of cement, coal, steel, meat, egg, oil, cotton and cereal; China possesses abundant resources due; obviously, to the size of its territory. "Long considered an overpopulated, repressive, backward country, China has in the last decade entered the small circle of advanced industrial nations. Economic reform, more than any other factor, is responsible for this progress", maintains William H. Overholt in this provocative book.Nevertheless, China encounters many economic problems. The principal ones are unemployment, inflation, weakness of the system of health, education and the financial sector. Choosing this way, China borrows definitely the way of liberalism. Liberalism caused the industrialization and urbanization of the country, but also education and enrichment of a part of the population. The principal objectives and strategies of development of the country are amongst the reform of government firms, of the banking and financial system, to raise the agriculture sector, and like in all the countries, to limit unemployment. In 2003, the GDP of China reached to 6354 billion dollars US, putting him second behind the United States....

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