Tuesday, May 12, 2020

Chinas Survival of Crisis Due to Economic Reforms Essay

Chinas Survival of Crisis Due to Economic Reforms In the years before 1976, many unwise policies were carried out which brought China into a crisis of communism, or a state in which communism was threatened. The Great Leap Forward and the Cultural Revolution were specifically the main causes of the crisis of communism and the mastermind between these two movements, Mao Zedong, can be held responsible for their initiation. The Great Leap Forward was a great economic failure. Years of famine and intense suffering came about as a result of this skewed project of Maos. Consequently, he was sidelined in the CCP. The direct consequence of this was the Cultural Revolution, as he sought to regain his†¦show more content†¦From post-1976 onwards, Deng Xiaoping and his conservative pragmatist government would bring great reform to China, which would allow her to tide over the troubles caused by the crisis in communism. Indeed, it would seem that his economic reforms were the main reason for Chinas survival, as opposed to political ref orm. Under Deng Xiaoping, action was taken to move China from a Soviet-style command economy to a more capitalist market economy. On the other hand, political reform was not as pronounced as Deng wished to retain the traditional communist style of party dictatorship. When Deng came into power, Chinas economy had not progressed as much as Mao had imagined it would. The crisis in communism had also had an adverse effect on the economy. Dengs catch phrase it doesnt matter if the cat is black or white so long as it catches the mouse encapsulates his entire approach towards economic reform. His economic reforms were very obviously not in line with communism at all but he felt that if they could bring greater prosperity to China, it was worth it to adopt these new measures. The reforms took place largely in rural China. There was increased emphasis and investment on consumerShow MoreRelatedPolicy Making Processes : China s Exchange Rate Policy1642 Words   |  7 PagesPolicy Making Processes Memorandum for Chinese President Xi Jinping From: International Monetary Fund Executive Director for China Runke Sun Subject: Prevent China’s Exchange Rate Policy from Regulatory Capture China’s exchange rate policy: â€Å"a dirty float† Exchange rate measures the value of one country’s currency through another country’s currency, so it acts a significant role in international trade, by which I mean a wide range term, not only infers import and export trade, but also includesRead MoreThe Development Of Liberalism After The Chinese Economic Reform And Open Up1708 Words   |  7 PagesFriedrich von Hayek elaborates the necessity of economic freedom to the formulation of liberalism. In the 1980s, China, a country undergoing dramatic economic program, worshiped Hayek’s idea, and fiercely debated the extent of government interventionism in this entire process. Following Hayek’s logic, a pure and complete economic freedom would inevitably lead to political liberalism. In contrast, a manipulated economy, like the one China developed before 1977, suppressed consumers’ freedom, and facilitatedRead MoreMore Than 100 Million Women Are Missing1557 Words   |  7 Pagesimbalance issue is not a universal problem across the world. The first part of the article begins by explaining how boys tend to outnumber girls in the world by the same proportion of 105 males to 100 females. Sen points out that this gender imbalance is due to reproductive biology, but after birth, if both are given the same care, females tend to survive longer than males. In Europe, the US, and Japan women outlive men, supporting Sen’s point that when given the same care women tend to live longer thanRead MoreEssay on The Great Big World and China4481 Words   |  18 PagesFor thousands of years, Chinese foreign relations consisted of subjugating countries that were unable to stand up to the powerful Chinese military and walling themselves off from empires which threatened the control the various regimes had over the economic and cultural lives of the people of the Middle Kingdom. With the growing power of the Western nations, these solutions became less and less tenable. The Chinese empire found itself at the mercy of the British and saw its borders forced open and itsRead MoreChina s Economic Success Of The United States2138 Words   |  9 Pagescompared to $17.4 trillion for the US (Fray 2014). This stood testament to the success of the economic reforms in the wake of the death of Chairman Mao Zedong, led by Deng Xiao Ping beginning in 1978, in revitalising the Chinese economy to the superpower status that it enjoys today (Zhu, Webber Benson 2010, p. 9). However this measure of China’s economic success is but one side of the coin. According to China’s official poverty standard, poverty fell from 65% to 10% in 1981 to 2004 (World Bank 2009Read MoreThe Full Convertibility of Renminbi: Consequences and Influences8173 Words   |  33 Pagesmeanwhile its process is doomed to be a long journey due to China’s specific situation. Contents 1. Introduction 1.1 Current account and convertibility 1,2 Capital account and convertibility 1.3 Full Currency convertibility 1.4 The RMB’s Full convertibility: 2. Historical process of RMB towards convertibility 2.1 Liberalization of Current Account 2.2 Liberalization of Capital Account transactions 2.3 The ongoing evolution of China’s foreign exchange rate system 2.4 Implications of theRead MoreThe Current Economic Crisis Has A Number Of Dimensions That Are Crucial2461 Words   |  10 PagesThe current economic crisis has a number of dimensions that are crucial. During this time there was a moment to represent break up to form interlocking arrangements to govern the world economy. There were several attempts to resolve the crises that arose from the central contradiction. This was within capitalism between the creation of profits and the realization of those profits in the sphere of production, circulation and exchange. These crises have led to a build-up of debts for both corporateRead MoreChina s Influence On The Reunification Of The Korean Peninsula3732 Words   |  15 PagesHas China’s role been primarily positive or negative in the reunification of the Korean Peninsula? In recent years, Asia has drawn plenty of attentions from the world, not only because of the rising great power China but also the increasingly unpredictable and unsettled North Korea. Based on the past history of German reunification in 1990 and enthusiasm for the reunification among citizens in both South Korea and North Korea, it seems to be a consensus in the world that the Korean Peninsula willRead MorePestle Analysis of China2095 Words   |  9 PagesA PESTEL analysis of Chinas current economy With China economic growth rapidly, more and more business people like to invest on chinese market. Meanwhile, multinational investment is always a good condition for economics’ grow and prosperity as well. In order to attract foreign direct investment and run a successful business in China, it is important to analyzing the macro-environment, and identify the factors that could affect the organization’s economy, such as supply and demand and its costs.Read MoreIn Recent Time, Outward Fdi Has Been Significantly Increased from China and India. Discuss the Factors Responsible for Such a Growth. Do You Think Ib Theories (Oli and Idp) Adequately Explain the Reasons for Outward Fdi3336 Words   |  14 Pages(OLI and IDP) adequately explain the reasons for outward FDI.† Introduction In the recent time, significant rise of outward foreign direct investment (FDI) was witnessed from developing countries like China and India. The Organisation for Economic Co-operation and Development (OECD) defines FDI as an investment that reflects the objective of establishing a lasting interest or long-term relationship by a resident enterprise in one economy (direct investor) in an enterprise (direct investment

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.