Chinese economy
If China's economy grows as fast for the next 20 years as it has forthe past 14, it will be the biggest economy on earth: I feel that China's drastic improvements over the last 14 years areoverwhelming, with their Real GNP growing at a rate of 9% a year, whichmeans by, 1994, China's economy will match the performance of countrieslike Japan and Taiwan. China's standard of living has also increased, andthe number of people who were considered absolutely poor decreasedapproximately 63%. I feel with the vast amount of people living in China,and the economic activity booming like it is, China's exports will continueto grow, as well as the standard of living. This will create more revenue,and more capital for them to produce even more goods and become evenlarger, prospering as one of the biggest economies on the earth. I alsofeel that China should try to overcome its corrupt system and steadily moveCompetition has been the key to China's success: I believe that competition has been the key to China's success. WhenMr. Deng opened the free market, it brought the first signs of the farmers
His political genius allowed thefarmers to become rich. Ifthey continue to grow at the rate China grows, and keep improving theireconomy, and join the likes of Japan, they can combine forces in allaspects against the west, military wise and economically wise. If foreign ownership buys itup, many jobs will also be lost, as well as many profits and products. In 1978 China had an isolated economy, with aminimal share of world trade, commodities, especially oil which was China'smain export. China's main driving force was competition, and they proved thatprivatisation and settling the matter of ownership are not so critical inthe early stages of reform. A bracing wind is blowing through the open door: China follows the policies of its East Asian neighbours on foreigntrade and investment. Ibelieve if China continues to improve its productivity, and the number ofmonopolies decrease as studies show, China will move into a capitalistfront only to prosper. If the company's areopen to the market, many jobs will be lost. Government Finance: l think that the governmentshould stop making up for losses of state-owned firms, and stop payingsubsidies to these firms and consumers, hence the budget gap would be morethan closed. if China'seconomy grows as fast for the next twenty years like it has for the pastfourteen, it will be the biggest economy on earth. He also introduced the "open-door policy" which isproving to be very beneficial, as they follow in the footsteps of theirstrong rich neighbours. Why privatisation may not be needed: Privatisation in many cases may not be needed because the governmentsupports many businesses and purchases their products. China will also receive a lot of foreign investmentfrom countries, especially japan, which will hit poor parts of China.
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Acceptance Essays
