20th Century Economic Systems

Describe the economic and political systems of three countries on three different continents (one of which is the United States and the other two non-western) in the 20th Century. Compare their political and economic systems and discuss the effects on each country s relative progress in achieving economic growth, and fair distribution of income and economic opportunity.
In this capstone paper, I would like to discuss the economic and political systems of three countries on three different continents, which are the United States (North American), the Republic of China (Asia), and the Republic of South Africa (African), in the 20th Century. Then, I would compare them together to focus more on their economic growths and the distributions of income
In the early of the 19th century, the United States was attracting foreign immigrants by expanding its territory under the circumstances of western movement. Since the growing of population, Americans started to develop farming structures, construct transportation network, and most importantly, they devoted themselves in extracting natural resources, such as gold, iron, mine, coal, et cetera. This period established the foundation of the United States’ evolutions of industrialization, economics and politics in the 20th century. Because of the outbreak of World War I in 1914, the United America was drifted into war unfortunately in 1917, which led the depression of capitalism happened thereafter in 1929. The United States was not the only victim during the depression of capitalism, it has influenced countries all over the world. Great Depression generated millions of people unemployed, a large number of farmers have been forced to give up their lands, many factories and shops had to close down, and plenty of banks went out of business. In 1932, President Roosevelt started to fully implement the government interventions in American depressing economics system, which is called “New Deal”. Franklin Roosevelt has recommended that it is the government responsibility to end the period of Great Depression. This is the way how American capitalism political system took charge in the bad
In the beginning of the 20th Century, the idea of bourgeois democratic revolution spread widely in China, as the foundation of Chinese Revolutionary League in 1905. The Revolution of 1911 is a bourgeois democratic revolution of anti-imperialist and anti-feudal in the history of modern China, which overthrew the rules of Qing dynasty and the monarchy over two thousand years, and established bourgeois democratic republic of China. In the meantime, the Revolution of 1911 also diminished the govern power of imperialism in the colonials of China. During the World War I, the western imperialism countries were busy in the war, so they temporarily mitigates the aggression of Chinese economy; thus, Chinese national industrialization got a short period development. After the May 4th Movement in 1911, Marxism began to spread in China as the new trend of the mainstream. Due to the influence of Marxism, the communist groups successively have established in many places in China in 1920. Then, the Communist party of China has born in 1921, and pointed out the direction of Chinese Revolution. From the year 1927 through the year 1949, China was under a very long war time; therefore, the economics was depressing, and the political system was very unstable. In the October, 1949, the People’s Republic of China had founded by the Chinese Communist Party, and the city of Beijing was