The Chinese Economic Reform: a Blueprint for Nigeria's Economic Plans
The Chinese Economic Reform: a Blueprint for Nigeria’s Economic Plans
By: Salim Salihu Muhammed
Over the years, government had embarked on several economic reforms aimed at bettering the lives of its citizenry; promising fulfilment of human needs for peace and security , clean air and water, food, shelter, education, arts, culture, and useful and satisfying employment; maintenance of ecological integrity through careful stewardship, rehabilitation, reduction in wastes and protection of diverse and important natural species and systems; provision for self-determination through public involvement in the definition and development of local solutions to environmental and development problems; and, achievement of equity with the fairest possible sharing of limited resources among contemporaries and between our generation and that of our descendants. Almost all of these reforms or policies failed to live up to its projections; the remains are abandoned strategic projects that could eliminate the unemployment quagmire the nation is experiencing today. However, Nigeria’s failure to turn around the economy is not in the policies, but rather in its inability to find one right way out of the million wrong ways it has consistently followed in achieving a plausible quest for an economic reform that could stand out as a reference to other nations.
Perhaps, one good solution to Nigeria’s economic problems could be a rendezvous of an effective research and feasibility studies on countries with a functional and effective economic reform; a consideration of China whose export rate is growing at an annual rate of 40% may serve a worthy step towards making the country one of the top 20 economies by 2020. One may want to ask why China is growing so fast: The reality is that China’s experiment with market reform has propelled her into the top 10 trading nations in the world. Over the past two decades, China has achieved the fastest economic growth of any national economy. If that
By: Salim Salihu Muhammed
Over the years, government had embarked on several economic reforms aimed at bettering the lives of its citizenry; promising fulfilment of human needs for peace and security , clean air and water, food, shelter, education, arts, culture, and useful and satisfying employment; maintenance of ecological integrity through careful stewardship, rehabilitation, reduction in wastes and protection of diverse and important natural species and systems; provision for self-determination through public involvement in the definition and development of local solutions to environmental and development problems; and, achievement of equity with the fairest possible sharing of limited resources among contemporaries and between our generation and that of our descendants. Almost all of these reforms or policies failed to live up to its projections; the remains are abandoned strategic projects that could eliminate the unemployment quagmire the nation is experiencing today. However, Nigeria’s failure to turn around the economy is not in the policies, but rather in its inability to find one right way out of the million wrong ways it has consistently followed in achieving a plausible quest for an economic reform that could stand out as a reference to other nations.
Perhaps, one good solution to Nigeria’s economic problems could be a rendezvous of an effective research and feasibility studies on countries with a functional and effective economic reform; a consideration of China whose export rate is growing at an annual rate of 40% may serve a worthy step towards making the country one of the top 20 economies by 2020. One may want to ask why China is growing so fast: The reality is that China’s experiment with market reform has propelled her into the top 10 trading nations in the world. Over the past two decades, China has achieved the fastest economic growth of any national economy. If that