China's Economic Growth


Essay, 2013

6 Pages, Grade: A


Abstract or Introduction

The debate whether China’s economic growth can be considered a miracle or a myth is a complicated one. China has experienced a considerable economic boom it reformed its economy following 1978. Reforms led to the liberalization of China’s economy, brought about rapid urban development, and increased the middle class base allowing for its political and economic influence throughout the world to flourish. Some believe – and some fear – that China’s dramatic and speedy rise will advance it to a point, surpassing the United States as the world’s leading economic superpower. However, with a closer examination, it becomes evident that this may be unlikely as China is heavily dependent on developed Western states, such as the United States, for the raw materials it needs to feed its manufacturing industry. Furthermore, by 2003, fifty-five percent (Gilboy 2004) of China’s exports were from foreign funded enterprises. Therefore, China’s economic rise is not a miracle, but rather a result of opening trade barriers to businesses from advanced countries which want to take advantage of China’s inexpensive manufacturing sector.

Details

Title
China's Economic Growth
College
Webster University
Grade
A
Author
Year
2013
Pages
6
Catalog Number
V268263
ISBN (eBook)
9783656583400
ISBN (Book)
9783656583394
File size
397 KB
Language
English
Keywords
china, economic, growth
Quote paper
Michael Kennedy (Author), 2013, China's Economic Growth, Munich, GRIN Verlag, https://www.grin.com/document/268263

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