Question

compare the economic rises of japan and china

Answer 1

ANSWER- ECONOMIC RISE OF CHINA

In the early 70s China was a agricultural country. The boost to chinese economy was mainly given by People's Republic of China(PRC) . Since the foundation of PRC in 1949. China has seen huge and turbulent economic development. Today China is the world's second largest economy after America. And is continuously growing year by year.In China many revolutions were done 70s and 80s such as maoism, socialism etc. After introducing of these reforms living standard and social ability of Chinese people gets improve. From tge period between 1980-1984 special economic zones were assigned to provide tax benefits to foreign investors. In December 2001 China got membership in WTO, this reduces many trade barriers, boosts exports, as well as entrance of foreign direct investment in country. China's economy grew at an average rate of 10% in the period between 1990-2004 , this was the highest growth rate in the world. CHINA'S GDP growth rate of past few years are

2016 - 6.85%

2017 - 6.95%

2018 - 6.75%

2019 - 6.85%

ECONOMIC GROWTH OF JAPAN

although Japan is a big economy, but has seen many reshuffle in its economy. Whether it is pre world war era or post world war era. During World War I japan keeps away himself away from conflict. On the other side many European countries were blowing themselves to bits, in that time Japan expands their economy by trade as well as dominance in Asia. When great depression hits entire world Japan economy hits a lot,as countries no longer imported Japanese luxuries such as silk. This reduces exports by 50%. The economic transformation comes to Japan during the Korean war by getting order for goods and services. After world War II, the U.S also supported to some extent and established a small presence in Japan to reduce the expansion of Soviet influence in the Pacific. In current period Japan is third biggest economy after China. GDP growth rate of past few years are

2016 - 0.52%

2017 - 2.17%

2018 - 0.32%

2019 - 0.65%