China: The Economic Miracle

Paper Summary:

The paper provides a description of the Chinese economy and presents the main statistics that illustrate its growth. The paper looks at the macroeconomic measures responsible for this transformation and examines three main challenges facing the economy. The paper also discusses recommendations that would ensure a healthy economic growth in China and prevent any potential meltdown. The paper concludes that there is no sign that China's economic growth will change in the foreseeable future.

Outline:
Description of the Chinese Economy
Main Statistics
Macroeconomic Measures that Brought About This Transformation
Chinese Main Challenges
Steps to Follow
Conclusions

From the Paper:

"Over the past 25 years, since the start of the first economic reforms that were to take China into the rank of the most important economies in the world, the Chinese economic growth averaged an annual 9.5 % . Further more, this trend is likely to continue in the future as well, given some of the current indicators and the constant development of both the market and the economy. According to current trends, China "could become the largest exporter in the world by the beginning of the next decade" .
"According to different sources , the Chinese economy grew by an astonishing 10.7 % (according to the National Bureau of Statistics (NBS), as quoted in the source mentioned), reaching 20.94 trillion yuan ($2.68 trillion). With these figures, the Chinese economy had already overtaken the British economy as the world's fourth biggest in term of GDP. Further more, the Chinese economy is growing closer and closer to the German economy, currently ranked third, but with a slow growth (2.2 % in 2006)."

Sample of Sources Used:

• Economic Survey of China 2005: Key challenges for the Chinese economy. September 2005. On the Internet at http://www.oecd.org/document/7/0,3343,en_2649_201185_35343687_1_1_1_1,00.html. Last retrieved on June 25, 2007
• Binglan, Xu. China's GDP grows 10.7% in 2006, fastest in 11 years. China Daily. Updated January 2007. On the Internet at http://www.chinadaily.com.cn/china/2007-01/26/content_793128.htm. Last retrieved on June 25, 2007
• Ming, Zhi. Investment cools slightly in 2006. China Daily. January 2007. On the Internet at http://www.chinadaily.com.cn/china/2007-01/26/content_793151.htm. Last retrieved on June 25, 2007
• Chinese growth heating up economy. BBC News. On the Internet at http://news.bbc.co.uk/2/hi/business/6570713.stm. Last retrieved on June 25, 2007
• China Is a Private-Sector Economy. CHINA AND INDIA -- THE CHALLENGE/Online Extra. Business Week. August 22, 2005. On the Internet at http://www.businessweek.com/magazine/content/05_34/b3948478.htm. Last retrieved on June 25, 2007

More papers on China: The Economic Miracle:

• Analytical Essay # 126479 : "China's Hukou System"
• Research Paper # 91805 : " China's Emerging Markets"
• Term Paper # 117792 : "Tigers, Miracles, and the Mythology of Development"

APA Citation:

MLA Citation: