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Essay

The Economy of China

Essay specific features

 

Issue:

Social Issues

 

Written by:

Evelyn W

 

Date added:

November 27, 2016

 

Level:

 

Grade:

A

 

No of pages / words:

4 / 1053

 

Was viewed:

8930 times

 

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Essay content:

The smaller public sector is dominated by about 200 large state enterprises concentrated mostly in utilities, heavy industries, and energy resources. Since 1978 the Republic of China government has been reforming its economy from a Soviet-style centrally planned economy to a more market-oriented economy but still within the political framework, provided by the Communist Party of China...
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This system has been called "Socialism with Chinese characteristics" and is one type of mixed economy. These reforms started since 1978 has helped lift millions of people out of poverty, bringing the poverty rate down from 53% of population in 1981 to 8% by 2001. To this end the authorities have switched to a system of household responsibility in agriculture in place of the old collectivization, increased the authority of local officials and plant managers in industry, permitted a wide variety of small-scale enterprise in services and light manufacturing, and opened the economy to increased foreign trade and foreign investment...
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General issues of this essay:
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