Modern Day China

China is the second largest economy in the world. It has become the fastest growing economy in the world with an average rate of 10% for the last thirty years. The largest exporter and second largest importer of goods has brought China to be ranked first in the foreign exchange reserves. The country with thousands of years of history, started off and continues today as mostly an agrarian economy. Over time China's economy continues to change and prosper. Starting with the first economic change in the early twentieth century, which occurred when the GMD (the Nationalist Party) lost control due to its poor economic performance. This in turn led to their defeat by the CCP. During that time many peasants lost their farmland and this led to a peasant

When an organization partakes in “proactive behavior…for the benefit of society,” it is deemed as socially responsible (P. 155). However, prior to labeling a organization as socially responsible, it is important that we first identify what specific elements of proactive behavior constitute a socially responsible business. To begin, for an organization to be considered socially responsible on the highest level, it must take a proactive approach to doing business. This is defined as “[taking a] approach to social responsibility in which an organization goes beyond industry norms to solve and prevent problems” (P.155). In addition, it is standard for a socially responsible organization to incorporate a larger scope of stakeholders, to include external stakeholders, in their business decisions to create positive externalities, and mitigate negative ones, to benefit society as a whole.

When Deng Xiaoping took control of China, he recognized that the economy was collapsing, and that his people were worried about class, especially how quickly the upper-class was growing, so he came up with a plan. He was going to open up the country to foreign investors, “But Deng himself undermined the process with his famous call to let ‘some get rich first’ . In practice this meant giving priority to the coast...Private enterprise

These effective strategies helped Hong Kong overcome the financial crisis. All these facts fully demonstrated that China is a responsible big country. After the Asia financial crisis, the importance of China's economy has been brought into focus; China's neighboring countries have begun to recognize the influence of the Renminbi.

The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.

Over the last few decades while China’s population growth rate has decreased, its GDP has increased. “China’s GDP per capita for the period 1952 to 2008 grew at an average annual rate of 5.58%.” (Yao) Furthermore, during the same time

Throughout World War II, China had faced a cruel and humiliating occupation by the Empire of Japan. A time where the Japanese held control over vast areas of Chinese land for 8 long years. After the defeat of the Japanese by allied forces, China had always had its own way of celebrating these occasions. Today in the 21st century, the Leader of modern day China, President Xi Jinping, has proposed an interesting and relatively new way to celebrate the Chinese 70th anniversary victory over Japan. In the article “Beijing risks a no-show at WWII events as Western leaders fear jingoism”, The Japan Times, show how President Xi is making as many attempts as possible to strengthen foreign relations as much as possible, by inviting all the major western powers to celebrate. President Xi even went as far as inviting the Japanese Prime Minister Shinzo Abe to the event located at Beijing along with several other Asian nations. Usually, the celebration of the ending of World War II is not as big in China compared to the many other nations who were victorious. He even invited the other nation’s military forces to march in China’s parade.

Since the Chinese economic reform beginning in 1978, China has witnessed an economic miracle. China’s annual GDP growth has been around 9.5% - 11.5% per year from 1978 to 2013, and GDP per capita has grown to RMB 41,908 in 2013 from RMB 381 in 1978 (National Bureau of Statistics of China, 2014). The opening up of Chinese economy to foreign investments, loosening regulations, and boost of private sectors etc., have all contributed to this economic miracle. China not only supported the growth of the East Asian Tigers, but also was widely considered as the world engine thereafter.

As the People's Republic of China celebrates its fiftieth anniversary, economists look back on a remarkable kaleidoscope of events and policy shifts that, despite episodes of vast suffering and waste, have brought enormous material benefits to China's teeming masses. The economy inherited by China's new Communist leaders in 1949 was overwhelmingly agrarian, ravaged by twelve years of warfare, and wracked by hyperinflation. Despite the strains imposed by China's participation in the Korean War, the new government quickly resolved difficult short-term economic obstacles and embarked upon a long-term process of

According to Heywood (2014), China has become a significantly successful country in the twenty-first century, as we have seen China 's economy being immensely successful, and even surpassed Japan to become the world 's second-largest economy. China 's current success is rooted from the introduction of market-based economic reforms since 1977, which has a consistent economic growth rate of more than 10 percent per year in the last 30 years. This has made China 's economy the second largest in the world, and may even become the World 's largest economic power in the 2020s (Heywood, 2014). China has contributed to the world 's economy in various ways. However, China 's rise has made offensive realists worry that the country would

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

Though some economists believe that democracy, as the most common type of capitalism, is the most “healthful” and useful economics and government system, China is a socialist country. Socialism – “Compare capitalism an economic theory or system in which the means of production, distribution, and exchange are owned by the

China’s economy has been largely influenced by political activities before the 1990s. Several economic reforms had already been put in to place since 1978 but the defining change was only triggered in 1992 with the speech by Mr. Deng Xiaoping, where he affirmed the nation of their shift towards a market-oriented system (Chen, Quan, & Liu, 2013).

The People’s Republic of China (PRC) has experienced unprecedented economic growth under the leadership of the Chinese Communist Party (CCP) since 1978. In his speech “The Present Situation and the Tasks Before Us,” Deng Xiaoping emphasized the importance of economic reform: “The superiority [of the socialist system] should manifest itself in many ways, but first and foremost it must be revealed in the rate of economic growth and in economic efficiency” (Deng 1980). With this explicit commitment to growth, Deng links the political legitimacy of the CCP, as the monopolist of power within the PRC, to economic performance. Therefore, the inevitable economic slowdown in the PRC will undermine the legitimacy of the authoritarian CCP and force political liberalization.

The sudden thrust into communism for the people China lead to many issues. One of which was noticed right away. One of the largest problems of communism is the idea that all people make the same amount of money despite their profession. This lead to unrest of the citizens; riots started to occur, and the demand for change was high. Along with the communistic ideas, China became cut off from the rest of the world. Trade was minimal and their economy was closed to the rest of the world. This in itself lead to tremendous amounts of problems as the population of China kept growing. There was little food to feed the massive population, or enough goods and supplies. As the 1980’s approached, and the death of Zedong in 1976, change was needed. In 1986 ‘New China’ emerged, the closed market economy opened back up to the world, and China was a time capsule closed since the 50’s