How Did Confucianism Affect Chinese Economy

Confucianism positively impacted Chinese economy because it focused on productivity that strongly emphasized the efficient use of all natural resources. Additionally, it emphasized on increase in productivity through automation, skilled labor, healthy employee to employer relationships, and good management. Another way it had a positive impact was improving the confidence of the public in the financial system and its institutions by having governments regulate the financial industry appropriately and closely which increased the confidence of the general public to save. Furthermore, Confucius made it so that the governments must spend wisely by continuously created budget surpluses which increased government reserves. Entrepreneurs were affected
by confucian economy by reduced bureaucracy in the setting up of new businesses. Also, it emphasized research and development by implementing laws to protect new inventions, resulting in increasing innovation and creativity within the country.