This website uses cookies to ensure you have the best experience. Learn more

Harmed Or Harnessed? The Effects Of Capitalism On China

2474 words - 10 pages

Since implementing capitalistic reforms in the 1970s, the gross domestic product of China has risen by an average of 9.5 percent each year. This growth is expected to continue at this breakneck pace, and China is estimated to overtake the United States as the world’s largest economy by 2026 (Ding 6). This influx in wealth has catalyzed advancements in Chinese technology, has enabled better access to education for millions of people, and has increased the overall standard of living for over a billion people. However, Capitalism has brought with it drawbacks for both the Chinese people and the nation as a whole. The Chinese people still lack many basic freedoms, worker’s rights are often abused, government corruption is rampant, and the environment is being damaged more than before. As capitalism has provided both advantages and drawbacks, one might wonder if capitalism having an overall positive effect on China.
To better understand the current influence capitalism has in China, it is necessary to have both a basic knowledge of the communist system which preceded it, as well as an understanding of the nature of Chinese economic reform, which began in 1978. In 1949, Mao Zedong, the leader of the Communist Party in China, defeated his longtime rival Chiang Kai-shek, and established the People’s Republic of China. Upon seizing power, Mao began to rebuild China, a country devastated by both a Civil War and the Second World War. Mao’s first major policy was The Great Leap Forward, which forced both collective farming and rapid industrialization. Mao’s second major policy was the Cultural Revolution, which sought to promote communism within China and remove any foreign ideological influence. Both policies were horribly unsuccessful, leading to millions of deaths and stagnation of China’s social and economic growth (Guthrie).
After Mao’s death in 1976, reformist Deng Xiaoping gained power in China and began to institute Chinese economic reform. The main goal of Xiaoping’s economic reform was to undo the Mao’s policies. Xiaoping immediately privatized state farms, whose newly incentivized workers helped China avoid a major famine. Xiaoping also opened China up to foreign investment, by setting up “Special Economic Zones”. In Special Economic Zones, nations such as the United States, Japan, and Western European nations, can conduct business with much less restriction than the rest of China. Since Xiaoping’s reforms began in 1978, China stopped embracing Communism and has instead embraced a socialist market economy (Yeung).
Xiaoping’s economic reforms helped increase China’s gross domestic product more than seventeen fold since 1978 (Lu 2). This influx of money has greatly assisted in the funding of Chinese technological research, which is allocated a significant portion of China’s public budget. It is estimated that China will spend more on research and development than the United States (the current leader) by 2023 (Thibodeau). One example of the...

Find Another Essay On Harmed or Harnessed? The Effects of Capitalism on China

Capitalism and its effects on a nation

1132 words - 5 pages overly motivated, he/she runs the risk of risking too much and losing everything. With no restraints on personal spending from the government of a capitalistic economic system, it could be often difficult to use one's money and capital in a responsible manner. For this reason, capitalism can be considered a 'gamblers economy.' If the citizens in this system are unable or unwilling to accept the fact that they may come out worse than where they started

The Effects of Population Growth in China

2336 words - 9 pages workers which move in and out the cities in search of work. This has caused many problems in China , since in the past and the present day, such as traffic jams in the city, pollution, and most importantly the shortage of food and shelter. This might affect the Chinese economic as well. China has 3.748 million square miles (or 9.707 million square kilometers). As a whole, China only has a population density of 139.6 people per square

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

2383 words - 10 pages trade liberalisation) as well as an invitation to foreign companies to invest in China. Despite a number of transitional and other fundamental problems besetting China, Deng Xiaoping's seemingly radical vision of the likely beneficial effects of globalisation on China's developing economy, has thus been vindicated.End Notes1. Excludes Hong Kong, Macau and Taiwan2. A statement made by Shi Guangsheng, China's Minister of Foreign Trade and Economic

Essay about the negative effects of colinization on India and china using specific facts

1397 words - 6 pages growing food products to un-food products, famine and in China, economic corruption. Those effects took and will take years to fix, and heavily outweighing any benefits Asia may have gained.Europe's colonization of India and China had negative effects on local political systems, leading to corruption and disunion of the peoples and governments. The movement to remove British from power in India, the Indian National Congress (INC), was one of the

This essay is about the effects of art on modern society and compares the rise of capitalism with the rise of individuality and creativity expressed in art

510 words - 2 pages Olympics and Odyssey of the Minds programs. Despite the push by the school committee for the reimbursement money to be spent on the Project fair the city insisted that the money would only be spent on "high growth communities."Although maybe not fully intended, this phrase "high growth communities" has many underlying meanings and can be taken in different contexts. Often when cities are putting special efforts into "cleaning up" a neighborhood or

Essay on the Evils of Capitalism Exposed in Catch-22

1541 words - 6 pages & M ENTERPRISES, FINE FRUITS AND PRODUCE" (259). Thus, the bruise that is capitalism rests upon a façade of new-age mammonism while replacing genuine American ideals. The novel proceeds to show that this free enterprise doesn't simply overtake America, but that it also corrupts and destroys it. To protect his syndicate, or, rather, to protect his potential to make more money, Milo lands two contracts with the Germans, both to bomb his own men

The Inevitability of Capitalism

1297 words - 5 pages economics. Her attempt to redefine economic theory based solely upon her own biases is clear and does nothing to support her argument against capitalism being a natural process. Moving on to chapter 3, she describes some of the effects of scarcity that the pre-capitalism society experienced, with regard to farming and famine. She relates this: “Public authorities kept a weather eye on each year’s harvest as it came into the granaries to be stored for

The Paradox of Capitalism

2533 words - 11 pages or major they appear. Alienation versus Anomie After providing an overview on the collective structure of Karl Marx and Emile Durkheim’s theories we can evaluate the effects capitalism has on the modern consciousness of individuals. For Marx, one of the most serious problems with the division of labour was what he termed alienation; for Durkheim, the more critical problem was anomie. As noted earlier, alienation is inherent in capitalism; an

the future of capitalism

2232 words - 9 pages and ideology. Thurow contends that movements in the "plates" caused by ideological and/or technological changes can be gradual, having an imperceptible impact on the world's population or they can be sudden with far greater social consequences. When tectonic plates move suddenly, they cause earthquakes on the earth's surface; the distribution of wealth is changed over a very short period of time. In this analogy, periods of rapid change

The History of Capitalism

1434 words - 6 pages The History of Capitalism Capitalism is based on the same principles as mercantilism. The accumulation of means, materials, land and other things, this accumulation is called capital and “the property-owners of these means of production are called capitalists” (Hooker 2). Productive labor, human work that is necessary to make goods and distribute them, takes the form of wage labor. “The means of production and labor is manipulated by the

The contradictions of Capitalism

1536 words - 7 pages Capitalism controls or enslaves the laborer by making his existence dependent on the process of production instead of the production of the labor for himself. The laborer is historically different in a capitalist society because he is separated from production. He no longer produces for himself but instead for the general wealth, or the wealth of the capitalist. Capitalism controls even the capitalist himself by turning him into a mechanism

Similar Essays

The Effects Of Industrial Capitalism Essay

940 words - 4 pages than men. The owners even created contracts with orphanages to hire cheap child laborers to save money (Sherman & Salisbury, 2008, p. 277). In the 19th century, industrial capitalism began to gain more power in the form of monopolies. Rockefeller’s Standard Oil Trust was one of these monopolies. His company destroyed smaller and weaker oil companies to become a larger corporation. On May 15, 1911, the Supreme Court of the United States

The Effects Of Globalisation On China

2690 words - 11 pages , financial flows, the international business cycle and labour movements.The prominent effects of globalisation on China are their growth in foreign trade and FDIs. Globally, trade has dramatically increased from US$8.5 trillion (39.3% output) in 1990 to US$17.3 trillion (50.1% output) in 2003. China's economy has benefited significantly through globalisation and as the "manufacturer of the world", China depends on its large exports for growth. In 2002

The Effects Of Western Imperialism On China And Japan

628 words - 3 pages The Effects of Western Imperialism on China and Japan      China and Japan had very different experiences with Western Imperialism . Their reactions to western interference would lay a foundation for their destiny in a world that was rapidly progressing forward , leaving the traditional world behind .      China viewed themselves as totally self sufficient , superior , and the only truly civilized land in a barbarous world. They were

The Effects Of The Communists’ Policies Towards Women On The Communists’ Rise To Power In China

2308 words - 9 pages This investigation will cover women’s participation in the Long March, the People’s Republic of China Constitution in 1949, Mao’s policies for foot binding, the 1950 Marriage Law, and women’s increased participation in society. I will analyze journal articles and books from Western and Asian authors to evaluate various historians’ views on Communists’ policies towards women and the effects they had on Communists’ rise to power. Kellee Tsai’s