Abstract This paper discusses economicreform and entrepreneurial revolution in China since 1979. Reforms oriented toward free trade and open markets in the Communist government are discussed, as well as changes in China's political ideology due to economic pressures. The paper also highlights historical background and political problems.
From the Paper "At issue in the present study is the entrepreneurial revolution occurring in China, a revolution based on economic reforms oriented toward free trade and open markets that is paradoxically the product of ..."
Tags: China, economicreform, entreprenurs, Chinese Communist Party
Abstract This paper compares the economicreforms and the results of those reforms of both Russia and China during the 1990s and analyzes why Russia's economy has made a dismal performance whereas China's has emerged successful. The paper explains that Russia tried a "shock" approach to economicreforms, while China took a more gradual approach to reforms and, perhaps this fundamental difference in approach is the primary reason that one country has done well while the other has suffered. The paper also consider the historical conditions of each country and how these conditions influenced the outcome of the economicreforms as well as how the differences in the allocation of resources affected the economicreforms and their outcome.
Introduction
Discussion
Conclusion
From the Paper "Ever since the beginning of 1990s, the attention of the world has been concentrated on the persistently emerging relationship between the Russian Federation and the People's Republic of China. Much has been authored on the costs and benefits of such relationship and the prevailing analysis already tends to support China as one of the dominating states to come out in the coming decades in comparison to Russia. (Russia and China: Business Partners, Weary Neighbors) Hopefulness over the market restructuring of Russia wiped out with the crash of August 1998, when the ruble depreciated by 70 percent of its value and banks could not settle the debts and endorse currency contracts. In contradiction to the reform assurances by Yeltsin, the Russian economy of the 1990s more closely resembled a Soviet model than a market driven one. (The Logic of Economic Reform in Russia) "
Abstract This paper explains that the success of the Chineseeconomicreforms is attributed to the liberty granted to the non-state sectors to progress in the environment of the market economy. The open door policy is an essential element in the process of economicreforms. It induces foreign investment and encourages the foreign trade. The writer points out that foreign investment has brought in new capital, new technology, managerial skill and training for labor to China. This has infused the contemporary managerial strategies, business techniques and a legal structure for favoring the business dealings. The paper further notes that it has generated competition in the domestic market and the competition has compelled the domestic enterprises to become more efficient. The foreign trade has been made easy due to the availability of the low cost and high quality labor in China to produce goods to be sold at higher prices in the world market thereby increasing the compensation to Chinese labor. The writer concludes that China has thus become an outstanding trading nation in the region, primary to the economic development along with promoting stability in the region.
From the Paper "Chinese foreign policy of the mid-1980s results from the four correlated estimations. Firstly, the Chinese reform minded leaders opined that there is possibility for China to attain power and prosperity while safeguarding its national essence only through increased involvement in world activities. Secondly they emphasized that the international environment allows a focus upon domestic development while specifically because Soviet Union is concentrating on other emergent situations and in the process there is ample possibility that China can avail a stable environment in East Asia for the predictable future. Thirdly, they emphasized that China will find it advantageous to participate successfully in the international economic system and by soliciting growing foreign involvement in its own economic development. Finally, it is advocated that China can adopt persistent, independent, pragmatic and purposeful policies not only towards the three major powers of concern to them which are the Soviet Union, the United States and Japan but also towards other crucial areas like Korea, Indo-China and Taiwan. Hence the superseding goals of foreign policy of the reformers that arise from such considerations is to counterfeit a peaceful security environment in support of ambitious internal economic development. The reformers desire to promote economic relationships with all the prospective trading counterparts. They are much concerned in safeguarding the Chinese Sovereignty and autonomy while allowing the impediments of enhanced commercial and security links with the external world. (Okesenberg, 1986)"
Abstract This paper discusses three theories of economic growth - the neoclassical, institutional and locational theories. The paper critically analyzes the economic situation in Nigeria. It looks at the problems that have hindered economic growth in the country, including education, infrastructure and agriculture. The paper then discusses potential economicreforms for Nigeria and presents a ten year outlook for the country.
Table of Contents:
Abstract
Introduction
Economic Growth
Economic Growth Theories
Neoclassical
Institutional
Locational
History of Nigeria
Government of Nigeria
Economic Issues
Poverty and Diseases
Education
Infrastructure
Agriculture
Financial Reform Current Situation
Current Outlook
Ten Year Outlook
Nigeria's Growth Theory
Footnotes
From the Paper "Economic growth is the increase in value of goods and services produced by an economy. It can be measured as a percent change in the country's Gross Domestic Product (GDP). Growth is essential for the development of any country. Ensuring that the benefits of high economic growth are more widely distributed is vital for making such growth sustainable (Anonymous, 2007)."
"One of the most noticeable features of the Nigerian economy is that the majority of the Nigerian population is poor and stricken with widespread poverty and disease. This reflects in the low GDP per capita of the country."
Abstract This paper presents a discussion of economicreform in post-Soviet Russia and the prevalence and impact or organized crime that has continued to grow with the market economy there. Billions of dollars have left the former USSR; criminals have infiltrated most institutions and control approximately half of the national economy.
From the Paper "Organized crime thrives in particular environments, as in post-Soviet Russia's capitalist economy of administrative ineffectiveness and inefficiency. For example, Russian businesses have required operation licenses from the state, as opposed to just registration, as in Western Europe. Bottlenecks have promoted bribery with officials refusing to process licenses, on demand, in danger. In much greater ways, full-fledged crime involves a large sector of the Russian economy, and its capital. A weaker central government and adjustment to a market economy promote increased criminal activity. One sees remarks on Soviet conditions having made a Russian culture of 'cheating' as the only way to advance, or obtain housing, goods."
Abstract The research paper explores the possibilities of Jordan's adopting a liberal democratic system of government within the context of the political and economicreforms it is currently undertaking. To the outside observer, and as affirmed by political analysts, Jordan has an authoritarian system of government. Yet, the country's leadership claims that it is instituting political and economicreforms that aim towards the liberalizing and the democratizing of Jordan. Through a review of Huntington's theory that liberal democracy can emerge from authoritarian systems through gradual political reforms that slowly open up the country and relax the government's control over political rights and freedoms, this paper determines whether or not this is the case with Jordan. In other words, the paper discusses the economic and political status of Jordan and tries to determine the aim of reforms and their ultimate consequences and goals.
From the Paper "By the time of his death, King Hussein had ruled over Jordan as its absolute monarch for almost half a century. He had guided the country through the long years of the Arab-Israeli conflict, had survived coup d'etats against him, and had often entered into serious political disagreements with other Arab political leaders. Probably, his worst political decision had been to support Saddam Hussein in face of his invasion of Kuwait. For that, the Gulf leaders never forgave him. However, ultimately, and according to the pro-King Hussein political commentators, he left his son a stable country, at peace with its neighbours, especially Israel, and on the brink of economic and political reform (Abdullah). In other words, according to this analysis of the political and economic status of Jordan at the time that King Abdullah took over the government, the outlook was positive. However, before establishing this outlook as an objective and accurate analysis of Jordan's political and economic situation at the time of King Hussein's death, it needs to be emphasized that this is the opinion voiced by his son, King Abdullah. Therefore, it is hardly objective and, quite possibly, inaccurate."
Abstract This paper looks at the reforms taken on by the Russian government in the past decade which have been named "Economic Shock Therapy". It provides background information about the Soviet economy before the reforms and examines whether these had any impact on growth in the markets. It also looks at how similar reforms were performed in Poland and compares the results.
From the Paper "Since 1992, Russia has undergone a complex process of economic transition. It is a process that has been made more difficult due to the lack of theoretical and practical guidelines on the problem of transforming a communist command economy into an open capitalist one. All the existing theories on such a transformation tended to focus on the reform of rural subsistence economies, rather than on an industrially developed one, such as Russia. Yet, despite the absence of an effective economic blueprint, the state of the Russian economy, at that time, was such that the Yeltsin government was required to take action quickly, in order to save the country from economic ruin."
Abstract This paper discusses 19th century Britain and focuses on the political, social, and economicreforms that took place during this era. The paper explains that the reform in the British government between 1831 and 1850 greatly aided in the dynamic changes within England based on the economic, political, and social agendas held by the various political parties. The paper claims that these reforms were a necessary adjunct to English history, for they made the country stronger and more cohesive, helped immensely during the coming years of the 20th century when England would be tested to its limits in the 'Great War' of 1914 and World War II.
From the Paper "Between 1831 and 1850, Great Britain experienced numerous economical, political and social problems that threatened to literally tear the country apart. For many of those associated with the English government, especially the men that sat in the House of Lords and the House of Commons, it was clear that after the disastrous war with the American Colonies that England must somehow reform its laws and statutes that mostly affected the middle and lower classes. Thus, many new bills and acts were passed that in essence served as the dynamic process for change in Great Britain. The Industrial Revolution, which had vastly altered the social and economic face of England between 1750 and 1850, brought about the need for change, for it "posed a set of technical administrative problems which no. . . party, Whig or Tory, was capable of handling" and forced the British government to seek out "a fresh interpretation of the duties of government" (Churchill 23-24)."
Abstract This research paper discusses and analyzes the reforms initiated and carried out by Nikita Khrushchev as leader of the Soviet Union.
From the Paper "In a number of areas Khrushchev attempted to improve the performance of the Soviet state and its economy and to remove or ameliorate many of the worst features of the Soviet system under his predecessor Joseph Stalin. His most lasting reforms were political. He and his colleagues in the collective leadership of the Soviet Union, after a rocky beginning, worked out a system..."
Abstract The paper relates that while China's economicreform has been a huge success, there are many concerns about China's economy being linked
to other economies and its World Trade Organization (WTO) membership. The paper also discusses how critics accuse the country of intentionally undervaluing its currency and reveals China's shortcomings in enforcing intellectual property rights (IPR) laws. Additionally, the paper points out the deterioration in the environment that is another consequence of China's economic development. The paper concludes that China's is clearly moving in the right direction and its success will compel the government to make the additional changes that its world trading partners are demanding and that environmental limitations dictate.
From the Paper "Throughout much of history, China has been a major economic force. The country has been the world's largest economy for 18 of the past 20 centuries (Patten, 2005). Until the 15th century, China had the higher income per capita and was the world's technological leader (The real great leap forward). Up until 1820, China was responsible for 33% of the world's gross domestic product (GDP). However, things took a dramatic downturn between that time and the early twentieth century when China accounted for only 9% of the word's GDP (Gupta, 2008). According to Gupta (2008), the reason for the decline in economic dominance was China's missing out on the industrial revolution that made Europe and America prosperous. During this time, China's rules imposed international trading restrictions and tightened their controls on new technologies (The great leap forward)."
Abstract This paper shows how Kenya has instituted a series of economicreforms in an attempt to raise the condition of the Kenyan people. They are an attempt to bring the Kenyan people out of a state of poverty and repression to one of stability and security about their ability to sustain themselves. Each reform has been better than the last, but they are still far from solving these issues in their country. This paper cites the reasons for this as being a need for the people to regain the feeling of nationalism echoed in the early years of independence.
From the Paper "Prior to1800 Kenya consisted of groups of small tribal governments. Kenya is grouped into more than 70 ethnic groups, Some of the ethnic tribes are large e.g. the Agikuyu who form a majority of the population within their homeland in the central province and can also be seen to be in large numbers in the other districts in Kenya. In the1800s the Christian missionaries and explorers come to Kenya in large numbers and established rule over the Kenyan people. [Africa Guide, 1997]. "
Abstract This paper discusses China's economic policy and growth refracted through its foreign policies, its geo-political designs, and its internal consumption patters vis-a-vis energy and specifically petroleum. The research design is qualitative in approach and the conclusion is that while China has, in the past, united its foreign policy with that of its economic policy, and visa-versa, it has now begun to unwed these particular governmental dimensions with uncertain results. In the future, China is seen as possibly undermining the economic growth it was worked so hard to achieve by uncoupling foreign and economic policies.
From the Paper "Table of Contents Introduction 04 Economic Theory 04 Applied Theory 06 Literature Review 06 Foreign Policy as an Economic Weapon 07 Monetary Policy 19 Economics of Petroleum 23 Methodology 28 Philosophical Rationale 28 Theoretical Foundations 29 Research Design 30 Empirical Findings 30 Conclusion 31 References 33 China: Dimensions of Economic Growth Introduction Economic Theory The neoclassical approach to the study of economics hinges on the allocation of resources that are distributed across needs and satisfactions. Supply and demand is often used to characterize neoclassical economics and is useful in that the economic investment in capital: human, physical, or intellectual, is the primary driver behind the theory of supply and demand and the meta-theory of neoclassicism. Neoclassical theory prefers that individuals behave rationally in the market which, consequently ensures that products and services are consumed efficiently and that, by extension, enterprises generate profit just as efficiently. "
Abstract This paper summarizes the economic and political thought of key economists and classifies them according to the level of government control on the economy. Karl Marx and Friedrich Engels, who believed in the public ownership of productive property, are the advocates of strong, centralized government control. At the other end, Adam Smith, Joseph Schumpeter, Ludwig von Mises and Milton Friedman all espoused laissez faire economics. The middle ground is the fiscal policy of John Maynard Keynes. The second part of this paper discusses why the Keynesian model is both informed by and compatible with Christian principles. In the third part the writer recommends against increasing government regulations on the United States economy in the face of technology such as Napster and cloning. Instead, he argues that a careful application of Keynesian programs would ensure that the Unites States economy remains healthy and competitive.
From the Paper "The fact that capitalism continues to flourish, despite the predictions of Marx and Schumpeter, are testament to this economic system's primacy. Though they had different reasons for sounding capitalism's death knell, Marx and Schumpeter made a common mistake by underestimating how much technology revives capitalism. Marxist scholars such as Lenin later showed how capitalism has involved into imperialism, given that technology allows capitalists to extend their private ownership beyond the nation-state. Schumpeter, on the other hand, did not anticipate how these technology such as the internet have given rise to a new kind of ?daring entrepreneur,? who have in turn created new industries and opened new markets."
Abstract This paper introduces the political agenda of the Reform era in ensuring Chinese Communist Party control. It further reviews the economic approaches, effects on Chinese outlook and urban dual-economy of the CCP. This paper concludes by noting how Reform is definitely not about democratization, just as it does not demonstrate a socialist model but a strategic CCP retention of control.
From the Paper "The Reform era marked the end of ultra-leftist influence in the Chinese Communist Party (CCP) in several policies enabling private sector industrial and trading activities, modernized banking and finance, and an ambitious agenda of agrarian reform. Higher income levels, consumerism and greater social mobility did take form in the People's Republic of China. (PRC) A 'mixed' economy benefited some groups, as others lagged behind, amid sweeping changes allowing the CCP to maintain its political authority."
Abstract This twelve page paper examines the yuan. The paper presents the opinion that revaluing China's currency is necessary for several reasons, the most important of which is China's economic expansion, which has been impressive ever since economic and political reforms began to be implemented by Deng Xio Ping in the late nineteen-seventies.
From the Paper "The Revaluation of the Chinese Yuan: An Analysis of Implications Many economists believe that revaluing China's currency is necessary for several reasons, the most important of which is China's economic expansion, which has been impressive ever since economic and political reforms began to be implemented by Deng Xio Ping in the late nineteen-seventies. The People's Republic of China's expanding economic participation in the global economy has had currency implications, for a nation of more than one-billion people becoming a major trade partner in the world economy affects currency values around the world. Bohan (2005) notes that "China revalued the yuan by 2.1 percent in July and cut it loose from the dollar so it could float within tightly managed bands."
