China Unbalanced Essay - 921 Words

China â€Å"Unbalanced† Continual economic growth for the past 30 years has allowed China to rise as an economic power. As the Chinese manufacturing industry continued to grow many of the people moved from rural areas into urban centers. The continued economic growth has taken China from a poor country to the 2nd largest economy in the world. Using many of the principals of capitalism China has overcome obscurity and increased exports to the point of drawing a large trade surplus with Europe and the United States. The growing wealth of China has drawn much criticism form the global leaders as trade deficits rise. China has continued on policies of currency fixing and implementation of subsidies that are consistently controversial with the†¦show more content†¦Pensions and Social Security were almost completely non-existent for many workers. The government has gradually increased pensions for urban and rural workers consistently since 2005. The majority of the people still do not have pension cov erage. The move towards providing increased financial security for the people is expected to have a positive result on domestic consumption. Domestic consumption is the key to growth in China as the global economy has slowed. Rising unemployment has been an increased concern for the Chinese government. Students are graduating from college and are unable to find employment. As unemployment continues to remain stubbornly high the government has taken to stimulus to assist in creating jobs. With local governments having submitted for projects in the past the stimulus was implemented quickly. Jobs were created and the infrastructure of China was improved. A continual effort has been made to improving the Chinese infrastructure in both the costal cities as well as the inland. Government infrastructure projects have become increasingly important in the fight against unemployment. New technology in construction equipment is commonly not used in favor of using manpower over machine power. Social programs have proven to be expensive. Increased wages and the development of social programs all result in more expenses for businesses and government. China has sustained growth forShow MoreRelatedChina Unbalanced Essay815 Words   |  4 PagesAbigail Brown China Unbalanced Write-up International Trade and Development 12/7/12 In 2001 China became a member of the World Trade Organization. China’s accession into this organization had many advantages and disadvantages for the country. Some of the advantages of being a member of the WTO for China was the strong increase in GDP growth rate which the country experienced as a result of the facilitation of trade and the increase in imports/exports. Some of the disadvantages of the membershipRead MoreChina Unbalanced Essay3704 Words   |  15 PagesCASE STUDY CHINA â€Å"UNBALANCED† In this case study, we will attempt to answer what measures China took in preparation for acceptance into the WTO and how it adjusted to its eventual admittance in December of 2001. We will also review some of the problems associated with China’s economic growth strategy. We will begin our analysis of these questions by examining China’s economy at the time of Deng Xiaoping’s accession to power in 1978 and the economic growth strategy he and his successor implementedRead MoreAnalysis of China Unbalanced Case1035 Words   |  5 Pagesgrew at the rate of 9%. Entry into the world trade organization China failed to gain WTO membership under Deng Xiapong and had continued to seek â€Å"most favoured nation† status from US throughout the late 1990s.China finally gained WTO membership in December 2001. 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