The Promising Future of Chinas Economy Essay -- Economy

The Promising Future of Chinas Economy If Chinas parsimoniousness grows as fast for the side by side(p) 20 years as it has forthe past 14, it will be the biggest economy on earth I feel that Chinas drastic breakments over the last 14 years areoverwhelming, with their Real GNP growing at a lay of 9% a year, whichmeans by, 1994, Chinas economy will match the performance of countrieslike Japan and Taiwan. Chinas standard of living has also increased, andthe number of masses who were considered absolutely poor decreasedapproximately 63%. I feel with the vast amount of people living in China,and the economic activity palmy like it is, Chinas exports will continueto grow, as well as the standard of living. This will create more than revenue,and more capital for them to produce even more goods and become even giantr,prospering as one of the biggest economies on the earth. I also feel thatChina should try to overcome its corrupt system and steady move into afree enterprise system.Competition has been the key to Chinas success I believe that competition has been the key to Chinas success. WhenMr. Deng opened the free market, it brought the first signs of the farmers get more bass since the 1950s. His political genius allowed thefarmers to become rich. He also introduced the open-door policy which isproving to be very beneficial, as they follow in the footsteps of theirstrong rich neighbours. Mr. Perkins believed four conditions must be metfor a market system to work well in reforming centrally planned economy. Ibelieve if China continues to improve its productivity, and the number ofmonopolies decrease as studies show, China will move into a capitalistfront only to... ...ver the lastseveral years. The party has a large role to play in Chinas transition toa full market economy.China is on its way. the West should prepare Chinas interests lay in foreign investment, profession and economic reform. Chinas main driving force was competition, and they proved thatprivatisation and settling the matter of ownership are not so critical inthe early stages of reform. In the years ahead, China must choose betweenkeeping the communist party or kepping the stunning economic growth. Ifthey continue to grow at the rate China grows, and keep improving theireconomy, and join the likes of Japan, they can combine forces in allaspects against the west, military wise and economically wise. if Chinaseconomy grows as fast for the next twenty years like it has for the pastfourteen, it will be the biggest economy on earth.