China's Economic Management
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This paper looks closely at the economic management during the eras of Mao, Deng Xiaoping and the more recent reforms. The paper analyzes the successes and failures of the different reforms and argues that better control over economic actors and the installation of a robust legal system will break the bottlenecks and allow China to continue to grow its economy.
From the Paper:"Emboldened by the modest successes of the first Five Year Plan, Mao then launched into the Great Leap Forward. The underlying principle of the Great Leap was that steel production was the key to economic growth. Targets were set - China was to overtake Britain in steel production within fifteen years. Peasants were conscripted to make steel in their villages with coke ovens, and had quotas to fill. They smelted down everything, eventually including farm implements. This, of course, did not yield steel, which cannot be produced in such a crude fashion. The peasants, unable to grow and having what little crops they did produce hauled away to the cities, died by the million. The Chinese government accelerated the objectives - the 15 year objective was shortened to one (Harms, 1996)."
Sample of Sources Used:
- BBC: China's Economic Reform website. (2005). Retrieved May 1, 2009 from http://news.bbc.co.uk/nol/shared/spl/hi/pop_ups/quick_guides/05/asia_pac_china0s_economic_reform/html/1.stm
- GDP figures from the International Monetary Fund. (2009) Retrieved May 2, 2009 from http://www.imf.org/external/pubs/ft/weo/2009/01/weodata/weorept.aspx?sy=2008&ey=2008
- History Learning Site. (n.d.) Retrieved May 1, 2009 from http://www.historylearningsite.co.uk/china_five_year_plan.htm
- Harms, William. (1996). China's Great Leap Forward. University of Chicago Chronicle. Retrieved May 1, 2009 from http://chronicle.uchicago.edu/960314/china.shtml
- No author. (2001). Reformer with an Iron Fist. CNN. Retrieved May 1, 2009 from http://www.cnn.com/SPECIALS/1999/china.50/inside.china/profiles/deng.xiaoping/
Cite this Analytical Essay:
China's Economic Management (2011, October 12) Retrieved July 02, 2020, from https://www.academon.com/analytical-essay/china-economic-management-148368/
"China's Economic Management" 12 October 2011. Web. 02 July. 2020. <https://www.academon.com/analytical-essay/china-economic-management-148368/>