Question

In: Economics

China's Economic development details with referrence

China's Economic development details with referrence

Solutions

Expert Solution

China, economically extremely backward before 1949, has become one among the world's major economic powers with the best potential, and therefore the overall living standard has reached that of a reasonably well-off society. In the 22 years following reform and opening-up in 1979 especially , China's economy developed at an unprecedented rate, which momentum has been held steady into the 21st century. In 2004, the govt further strengthened and improved its macro control, and therefore the economy entered its best ever development period of recent years. The gross domestic product (GDP) for 2004 amounted to 13,687.59 billion yuan, 9.5 percent above the previous year.

China adopts the "five-year-plan" strategy for economic development. The 9th Five-Year Plan (1996-2000) was outstandingly successful, and therefore the 10th Five-Year Plan (2001-2005) planned out the primary plan for the new century, setting these main targets:

-- Sustaining fairly rapid climb , strategic restructuring, improving the standard and benefits of economic process so on lay firm foundations for doubling the 2000 GDP by 2010; substantial perfection of the socialist free enterprise and putting state-owned enterprises on a contemporary enterprise footing, thus allowing greater participation in international cooperation and competition.

-- GDP to succeed in some 12,500 billion yuan, and per capita GDP 9,400 yuan by 2005 (at 2000 prices assuming annual economic process of around 7 percent). A marked improvement in quality of life, with 5 percent annual growth within the income of urban residents and within the net of rural residents; keeping the registered urban percentage stable at around 5 percent; maintaining generally stable prices and basically balancing international revenue and expenditure.

-- Optimizing and upgrading the economic structure to sharpen China's competitive edge. By 2005, the added value of the first , secondary and tertiary industries will account for 13 percent, 51 percent and 36 percent, respectively, of GDP; employing 44 percent, 23 percent and 33 percent, respectively, of the labor force. Further improvement to infrastructure; increased urbanization and bringing the widening development disparity between regions under effective control.

Most of those targets have already been achieved before schedule. At present, the govt is drafting the 11th Five-Year Plan (2006-2010)

The Chinese government has made innovation a top priority in its economic planning through variety of high-profile initiatives, like “Made in China 2025,” an idea announced in 2015 to upgrade and modernize China’s manufacturing in 10 key sectors through extensive government assistance so as to form China a serious global player in these sectors. However, such measures have increasingly raised concerns that China intends to use industrial policies to decrease the country’s reliance on foreign technology (including by locking out foreign firms in China) and eventually dominate global markets

China’s growing global economic influence and therefore the economic and trade policies it maintains have significant implications for the us and hence are of major interest to Congress. While China may be a large and growing marketplace for U.S. firms, its incomplete transition to a free-market economy has resulted in economic policies deemed harmful to U.S. economic interests, like industrial policies and theft of U.S. intellectual property. This report provides background on China’s economic rise; describes its current economic structure; identifies the challenges China faces to take care of economic growth; and discusses the challenges, opportunities, and implications of China’s economic rise for the United State


Related Solutions

Brief details about China's Soft power Development in recent years
Brief details about China's Soft power Development in recent years
What is China's five-year plan and what role does it play in China's economic development? What...
What is China's five-year plan and what role does it play in China's economic development? What is the dispute?
What role do China's state-owned enterprises play in economic development? Why can't they be privatized?
What role do China's state-owned enterprises play in economic development? Why can't they be privatized?
Details about china's "One belt,One Road" Strategy with refference
Details about china's "One belt,One Road" Strategy with refference
Explain the differences between Canada and China's economic prospects.
Explain the differences between Canada and China's economic prospects.
China's Fifth cyclical Economic (1978-1980) Need 2000 words with full description. China's Fifth cyclical Economic crisis(1978-1980)
China's Fifth cyclical Economic (1978-1980) Need 2000 words with full description. China's Fifth cyclical Economic crisis(1978-1980)
How can China's GDP of development promote policy recommendations? Explain
How can China's GDP of development promote policy recommendations? Explain
'Development is the development of man, it is human being centered'. Economic development is economic growth...
'Development is the development of man, it is human being centered'. Economic development is economic growth plus positive changes in the factors or indicators of well being of the masses. Explain economic growth and examine or discuss some of the factors or indicators of which positive changes will bring about economic growth and lead to economic development. Hints- examples of the factors or indicators include: physical capital per worker, human capital per worker, natural resources per worker, technological knowledge, savings...
'Development is the development of man, it is human being centered'. Economic development is economic growth...
'Development is the development of man, it is human being centered'. Economic development is economic growth plus positive changes in the factors or indicators of well being of the masses. Explain economic growth and examine or discuss some of the factors or indicators of which positive changes will bring about economic growth and lead to economic development. Hints- examples of the factors or indicators include: physical capital per worker, human capital per worker, natural resources per worker, technological knowledge, savings...
'Development is the development of man, it is human being centered'. Economic development is economic growth...
'Development is the development of man, it is human being centered'. Economic development is economic growth plus positive changes in the factors or indicators of well being of the masses. Explain economic growth and examine or discuss some of the factors or indicators of which positive changes will bring about economic growth and lead to economic development. Hints- examples of the factors or indicators include: physical capital per worker, human capital per worker, natural resources per worker, technological knowledge, savings...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT