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Ioana
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How do you explain China's economic success?
August 4, 2008 - 07:44 AM
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In the article below, the author explains it through its liberal policies, but I've heard many views that gave China as an example of a place where communism was a success.
In 1992, China fixed the goal of establishing a market-orientated economy. The move was a natural result of the ever-deepening reforms as commodity and labour prices were freed up and the capital, real estate and technology markets took shape.
Today the market mechanism is playing a fundamental role in the economic life of China.
While the market system was introduced to replace a rigidly planned economy, the Chinese Government was also taking steps to adapt its role and establish an effective macro-control system in line with the new economic structure.
The government reformed the financial system and strengthened the central bank's power to supervise the market and safeguard the stability of currency. It also implemented a proactive fiscal policy to maintain steady economic growth.
Taken from:
http://english.people.com.cn/200211/13/eng20021113_106760.shtml
This post was edited on: 2008-08-04 at 03:39 PM by: ioanap
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jasper bakyayita
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Re: How do you explain China's economic success?
August 4, 2008 - 07:48 PM
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The success of China is not the impressive economic and financial data,it is the people stemming from different tribal entities,but willing to forge ahead.
The Chinese language creates unity and cohesion.
The cultural revolution in China elevated 100 million people from illiteracy to advanced literacy in 1O years.
Faith in China brings people together.Mass customization and innovations in products and services have enabled the regime in China to expand its horizon.
China had invested in Post independence Africa 40 years ago and now its reaping dividends.
China is now the visible foreign power in Africa.It has constructed cities,hospitals,transport and sports infrastructure all over Africa.
In retrospect,China gave Africa interest free loans and the result Africa gave China access to its vast minerals.The minerals have accelerated the success in producing world class and cheap electronics.The digital revolution is making China a world economic and military power
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Ioana
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Re: How do you explain China's economic success?
August 5, 2008 - 01:37 PM
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jasireen123 wrote:
The cultural revolution in China elevated 100 million people from illiteracy to advanced literacy in 1O years.
From what i know, the cultural revolution in China was a huge failure.
Ideological cleansing began with attacks by young Red Guards on so-called "intellectuals" to remove "bourgeois" influences.
Millions were forced into manual labour, and tens of thousands were executed. The result was massive civil unrest, and the army was sent in to control student disorder. (taken from here)
The student disorder refers to the massacre in the Tiananmen Square. (you can read more about it here
But I do agree that the investments in Africa have been a really smart move.
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The road to hell is paved with good intentions.
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