Chinese Economy

Paper Summary:

The paper explores how the further opening up of the Chinese economy will better the condition of the people of China and will improve the lot of the worker. It shows how the relaxation of 1979 has lead to an improvement of the overall economy and surmises that if China adopts a truly open economy the overall economic situation of the citizens will improve.

From the Paper:

"In 1958, Mao Zedong promised that China would overtake the UK and the US in growth and development within 15 years. Even after tens of millions of farmers died in the Great Leap Forward, Mao still believed the false crop harvest reports. Now the falsification has broadened to include economic growth figures. Thomas Rawski, a professor of economics at the University of Pittsburgh, has presented statistical evidence from the China Statistical Yearbook implying that China's GDP grew by 24 percent between 1997 and 2000. Energy consumption declined by 12.8 percent over the same period. The job opportunities that were created during this time period, as well as rises in commodity prices, were either negative or normal."

More papers on Chinese Economy:

• Research Paper # 61106 : "Chinese Economy and Foreign Investment"
• Analytical Essay # 136604 : "The Economy of China"
• Persuasive Essay # 94451 : "Is China a Threat to the U.S. Economy?"

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