China Economy
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A century ago, china was a country of opium eaters and day sleepers. The poor and underprivileged people had no vision of growth in the international market and may even not dream of being so demanded in the global economy as china is today. Today no one can deny the fact that china has traveled through long paths of economic evolution and development and emerged as the giant competent of the super market holders. It is giving really a tough time to the economic monsters who had been considering the international market as their father’s place for the last several years.
The Chinese economy rise is the result of the basic Chinese rules which helped them to be benefitted from every resource available. Their very slogan of “the color of the cat doesn’t matter if hunting mice” reflects their simple strategy and the secret of their growth. It was not before 1978 that the Chinese president Deng Xiaoping modernized the ideology and removed all the obstacles hindering the way of Chinese economic growth. China grew slowly and steadily and its economy is dynamic today with the top ranking companies and market provisions. Chinese government policies are well understood and revised from time to time for providing an ease to local as well as international marketers.
Though Chinese government has ordered a slow growth rate and is strictly bound to avoid the dangers of overheating the market, yet the annual growth rate of china’s economy is ten percent officially. In 2007 china made a high growth of 11.9 percent on the official scale while it was 14 % on the non official measures. There are plenty of hunters in the international market who sniff the opportunity of investing in the Chinese market with the relaxation policy provided by the government.
One of the major reason of the high Chinese economic growth is it’s the top position in the export of machines. This export of machines brings billions of dollars every year to the Chinese market. In 2007, china earned four times of what he gained in the whole 2005 with simple export of his machines.
One of the good policies of Chinese economics is on the role of the government. Chinese government has always been very positive in supporting the new investors. It facilitates and helps the companies to get established in areas where it wants to rapid increase in its growth.
It provides numerous benefits to these companies who are ready to invest in the coastal areas. A very recent example of this is the project of Delta which helped companies to establish in the coastal areas. Now this is working with two ambitious goals. The first is to develop in the regions which are behind like the province of Fujian and Binhai areas; facing a gap with the areas with the modernization has taken firm roots. The second of its mission is to encourage the establishment of large industrial scales to spend on the areas where the cost is pretty low than the coastal areas.
The future of Chinese economy can be seen with the fact that the magnitude of the newly launched projects is very high and bring a vision of the superior China. In Fujian, under the development model of “From the top” a new project has started supported by Beijing government, it has proposed by the local administration to build new rail lines and expand the area of the tracks and the cargo services are thought to be given an expansion of eighty percent. This is one of the examples of the ongoing projects in china which ensure the continuity of the country’s economic growth. If it is done as being proposed and the province is proximate to Taiwan; it will surely help attracting investors to have projects in the Chinese market. The on whole purpose of the project is to modernize the province which can possibly bring an increase of nine percent in the annual growth of the province’s economy.
Another development model known as “bottom” is focusing to bring concentric waves of growth and progress on smaller scale. The best quoted example of this model probably can be of the region of Zhejiang which came in the implementation act 35 years back and took up half of the table entry of the Chinese provinces. Today this is the third richest region of the country. Under this development model Zhejiang has not been able to establish a strong industrial base yet also has brought most of its rural population out of the poverty and successfully can claim its accomplishment. For getting this the local government made certain steps and removed all those regulations which hindered the process of economic growth and it brought banking system which did land itself to the state enterprises yet focused on the private sector.
Instead of rapidly growing economy of china, there are some irresoluble dilemmas. The growing population of china is a big question for the Chinese government for how to enter them in work force. Every year about 15 million is a big figure to be adjusted in a country like china where industrialization is in its embryonic phase and needs some time to ripen. Thus it is very necessary for the country that economy continues to grow with the same speed as it is. This is the only way and hope that can bring a relief for the future generations.
Above mentioned are few of the examples how did china got its today’s position in the international market and is on the way of prosperity. One thing is must to be noticed that the role and the will power of the administration is important, yet the sincerity and the true spirit of people is no less significant in bringing a country to the position where hardly someone can dare to call its economy in question. This was only due to the dedicated and determined people of Chinese states that today china is ranked higher than any other country.
By: Ammarah Khan
