Question

The Chinese model for economic development is appreciated by many scholars and policy makers. What two arguments can you put forward to support the Chinese model.

Answer 1

China Economic Development model is one of the strongest economic models in the world. That's why they become one in the fastest growing economy in the world. Behind the achievement of china economic model has numerous factors exist. Like Strong labour force, export-oriented economic growth, wages and incentives, low unemployment rate, gender equality, free market, strong political system, and systematic implementation.

The most important advantage of Chinese economic model is the policy regarding the work participation, the model developed by using the maximum possible advantages of china political system and government, export-led growth, industrialisation and efficiently coordinate liberalisation and free-market policy, well-behaved policy implementation strategies and strong and effective population control policies.

Labour force and work participation is the back born of the Chinese economy. In china labour force is biggest compared to the rest of the world and china is most women employment participation in the world especially in the industrial sector. Moreover, the china unemployment rate is below 5percent. These indicate the Chinese economic model strength. Besides this, another important one is the policy implementation strategy, in china, exist non-democratic, authority centric country. The authoritative oriented political system at the same time the major population keep trust on the system so that they can make policy not only for a limited period but they can be prepared and implemented for a generation to generation. Economic models success rate is high and achievable. With these reasons, china's economic development model earn appreciation from an economist in the rest of the world.