China s Economic Growth And Development Essay - 990 Words

For the past three decades, critics have immersed themselves in the discourse of China’s rapid economic growth and development. For a socialist regime, the emergence on China’s remarkable economic achievement has been one of the world’s most unprecedented success stories. Sai-leung Ng (2000) emphasized on China’s success, describing China as the country with the most rapid economic growth of the time. Paul Collier (2007) noted that individuals in the west were starting to get worried that China was converging to quickly with the western economy. To support Collier’s comment, Jean-Francois Huchet (2006) rated the Chinese economy among the top five leading economies in the world. In the book, Why Nations Fail, Acemoglu and Robinson (2012, p. 86) exhibit their astonishment stating ‘China has made great strides towards inclusive economic institutions, strides that underpin its spectacular growth over the past thirty years’. Conversely, Acemoglu and Robinson (2012, p. 443) conceptualized the framework that ‘China achieved its economic growth by shifting away from extractive economic institutions and implemented inclusive economic institutions†¦Ã¢â‚¬â„¢ Yasheng Huang (2012) has exemplified a theoretical concept insinuating that China’s rapid growth substantially resulted from its rural reform. In his article, How Did China Take Off, Huang (2012) argued that China’s â€Å"take-off† in economic growth was completely a function of its rural development and internal reforms. This initiated theShow MoreRelatedVietnam Air Pollution And China s Economic Development And Growth2618 Words   |  11 Pages Chinese Air Pollution History of Air Pollution in China During the 1980s, China underwent a series of industrial changes leading to severe air pollution (Chen, Ebenstein, Greenstone, Li, 2013; Chen, Kan, Chen, Jiang, Hong, 2011; Kan, London, Chen, Zhang, Song, Zhao, Chen, 2007; Schmidt, Olicker, 2004). 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China’s growing manufacturing sector and increase in consumption has taken the country’s economy to new heights. Today china is one of the largest economic powerhouse in world, but at what cost. China’sRead MoreChinas Economic Growth1224 Words   |  5 PagesSuccessful Economic Growth China may share some economic growth patterns with Japan, Korea, and Taiwan due to cultural similarities, geographic location, similar economic development strategies, or, in the case of Japan, relatively large size of the domestic economy. China’s economic growth is expanding at a great pace, while other countries may be at a standstill. China has been the world s fastest-growing economy. One of the main stimuli twelve years ago was the release of Hong Kong to China fromRead MoreChin An Economic Power House1210 Words   |  5 PagesSeemingly transformed overnight; China has become an economic power house. In truth, however, China has been growing now for more than 30 years. Since it’s initiation of economic reforms and trade liberalization in 1979. China is one of, if not the fastest growing economy world-wide, averaging nearly 10% growth GDP (Growth Domestic Product). (Morrison, 2015) This financial revolution began with a series of reforms. One was designed to revitalize the state sector and save socialism, others beganRead MoreA Theoretical Socio Economic Approach1675 Words   |  7 PagesAccording to Laville and Nyssens’s book, ‘Towards a theoretical socio-economic approach’, a community-based business is a trading organization which has the capability to rebuild and develop social capital in a community destroyed or depleted by contemporary business thinking. ( Laville, J. L. and Nyssens, M. 2001), Compared to the traditional enterprise’s ownership rights held by investors, different persons including investors hold the property rights of community-based enterprise, workers, managers