Reflect on the changes in China. Can the country continue to be a manufacturing floor for the rest of the world as more Chinese move up in their income categories? What are the implications of the country’s incredible growth?
China has continued to move upward and has become the largest manufacturer producer in the world. The country has also moved upward in becoming one of the largest trading nations in the world. Yes, China will continue to be the manufacturing floor for the rest of the world. The country has been able to make positive changes because they’re adapting to changes that are happening around them and ultimately in the world. Changes are inevitable and must happen to grow and continued success. China has been labeled as a communist country but is slowly moving in the direction of a democratic country. It is also moving toward a free market system and democratic government by implementing some democratic concepts. I believe this is so because the country is now encouraging citizens to be more innovative, creative, open businesses, go to school, seek new employment, etc. Those things were not available to China’s citizens a few decades ago and now they are, which is allowing China to have a high and sustainable economic growth rate.
China’s contributor growth comes from the country focusing on social and economic reforms, which plays a huge role in economic growth. “China will push ahead with partial privatization of state-owned enterprises in key industries, offering hope to advocates of aggressive market reforms” (Wildau, 2015). The country is also focusing on education, technology and welcoming different kinds of investments that are all contributors to China’s growth.
Wildau, G. (2015, September 15). China cautiously embraces the privatization of state-owned enterprises. Retrieved from Financial Times: https://www.ft.com/content/69253d76-633c-11e5-97e9-7f0bf5e7177b
by EssayRoyal, Dec. 10, 2019, 5:33 p.m.