The Economic of Development After the Reform and Opening-Up Policy in China.
Essay Tile: The economic of development after the reform and opening-up policy in China.
Introduction: This essay will talk about the economic of development after the reform and open policy. Firstly, this essay will tell the background of the open policy in China. Because it was a significant turning point in the economic of development history during the period of the people’s Republic of China has been set up after the world war two. Secondly , this essay will talk about the macro-economy of China, it include GDP and inflation. Meanwhile, the essay will cover the policy of these things. Finally, this essay will focus on the development of micro-economy of China. Such as profit, different kinds of the relation between supply and demand, and the different types of industries.
Background of the reform and opening-up policy in China:
Before the 1978, the economy of China was a typical planned economy in which production levels and prices are controlled by the government,( Feltenstein,A.,Farhadian,Z,.1987) and all resources was allocate by the Chinese government. Unfortunately during that periods, China had faced a unprecedented cultural revolution. The Chinese economy had been on the verge of collapse and heavy national fiscal deficits. Because of these reason, the leaders in that current government trying to shift China 's economic system from planned economy to a market economy and to save the economy of China.(Gregory, 2011)
1.1
Source: The word bank
The bar graph 1.1 illustrate the GPD of China during the period of 1978 to 2012, form this bar graph, we can get that the economy of China increased steadily during these periods and today is the richest time in China history. The main reason for these good situations of Chinese economy is that the type of Chinese market has changed form planned economy to market economy. Although today’s Chinese economy is not the pure market economy and there are many scarce resources are controlled and allocated by the
Introduction: This essay will talk about the economic of development after the reform and open policy. Firstly, this essay will tell the background of the open policy in China. Because it was a significant turning point in the economic of development history during the period of the people’s Republic of China has been set up after the world war two. Secondly , this essay will talk about the macro-economy of China, it include GDP and inflation. Meanwhile, the essay will cover the policy of these things. Finally, this essay will focus on the development of micro-economy of China. Such as profit, different kinds of the relation between supply and demand, and the different types of industries.
Background of the reform and opening-up policy in China:
Before the 1978, the economy of China was a typical planned economy in which production levels and prices are controlled by the government,( Feltenstein,A.,Farhadian,Z,.1987) and all resources was allocate by the Chinese government. Unfortunately during that periods, China had faced a unprecedented cultural revolution. The Chinese economy had been on the verge of collapse and heavy national fiscal deficits. Because of these reason, the leaders in that current government trying to shift China 's economic system from planned economy to a market economy and to save the economy of China.(Gregory, 2011)
1.1
Source: The word bank
The bar graph 1.1 illustrate the GPD of China during the period of 1978 to 2012, form this bar graph, we can get that the economy of China increased steadily during these periods and today is the richest time in China history. The main reason for these good situations of Chinese economy is that the type of Chinese market has changed form planned economy to market economy. Although today’s Chinese economy is not the pure market economy and there are many scarce resources are controlled and allocated by the
Bibliography: 1. Feltenstein,A.,Farhadian,Z,.1987. Fiscal Policy, Monetary Targets, and the Price Level in a Centrally Planned Economy: An Application to the Case of China, PP.2-4. 2. Gregory C.C, 2011. Economic Planning in China, PP.2-4. 2. Wang.W.F, Changing Spatial Distribution and Determinants of Land Development in Chinese Cities in the Transition from a Centrally Planned Economy to a Socialist Market Economy: A Case Study of Guangzhou, PP.1-3. 3.Amadeo.K,22/03/12,2012-last updata, What Are the Causes of Inflation?,[Homepage of US ECONOMY],[Online]. Available:http://useconomy.about.com/od/inflationfaq/f/Causes-Of-Inflation.htm [11/05,2013]. 4.Kiyotaki,N.,Wright,R,.1989. On Money as a Medium of Exchange, PP.2-5. 5. Chiuyu, K.,Wright,R,.2009. Demand and Supply Analysis, PP.7-9.