Modernization Of A Poor Communist Country

In October 1949, the People’s Republic of China (PRC) was established and led by Mao Zedong. China’s new communist leaders turned their backs on China’s traditional output (based on individual and small scale household production) economy and set out to create a massive socialist industrial government inspired by the Soviet Union. This idea introduced a model, which prioritize industrialization known as the “Big Push Model”. China started prioritizing investments into the heavy industry, which would reshape the Chinese economy and create a Command economy. Mao’s economic policies seemed be working in the

During the 1950s and 1960s, the Maoist government in China implemented a socialistic economy wherein the state controlled nearly every aspect of national and economic development. The process of making the Chinese economy public took the better part of the decade, but resulted in an explosive rate of expansion. Both the nation’s industrial and agricultural sectors grew exponentially until finally reaching a tapering off point during the late 1960s.

Since the market orientated economic reforms were introduced in 1978 (Khan, Hu (1997, P103) China’s economy has seen a 10% increase in Gross Domestic Product (GDP) Per year (Vincellete, Manoel,

However, the implications of globalisation can form volatility in the international business cycle. Highly integrated economies are at greater risk of experiencing economic downturn in the business cycle. Therefore, China’s utilised process of economic liberalisation has reflected in ability to embrace globalisation and maximise the benefits of economic integration and rapid growth. As this evolutionary process continues, by 2025 China will be the world’s biggest economy (Ross Gittins: How Asia is catching up with the rich West). The Chinese ‘economic renaissance’ began in the 1970s after the government converted from socialist economy to a capitalist economy.

Every five years starting in 1953, the Chinese government issued an outline of the countries economic outline for the next five years. The First Five-Year Plan followed the Soviet model, which focused on stimulating economic growth by developing heavy industry such as mining and iron/steel manufacturing. The plan was effective, but because of China's late start it caused them to fall back behind other industrial nations. Mao mobilized the Chinese people to speed up the process of industrialization in order to catch up with the other nations. Mao needed to change direction but he faced disapproval with the Chinese Communist Party because of his massive failing for the Great Leap Forward. Mao became concerned that China was moving away from socialist ideals to capitalism.

An essay written by V.C. Letemedia titled, Revolution on Animal Farm: Orwell’s Neglected Commentary, Letemedia addresses the complexities and the controversy associated with the writing of Animal Farm. In the essay Letemedia suggests that the one thing that was never accomplished in the novel was equality. The reason for this is because, “men are only decent when they are powerless,” (Letemendia 127) this theory does hold true judging from the initial intent of the implementation of Animalism. The idea is that quality is never really achieved, the rhetoric of equality is always spoken by those who are vying for positions of power, but those words are often used without good intent.

China has reached a milestone in terms of achieving its centenarian goal of making China a prosperous nation once again. One of the ways that it has done this is by having steady economic growth even in the midst of an economic crisis. Not only has China’s economy grown, but its standard of living has also improved, it has achieved this by spending 70 percent of its fiscal revenue towards improving people’s standard of living. China has also pushed more anti-corruption reforms and has made efforts towards widening its economy by setting up freer trade.

In addition to creating a communist society, Mao wished to strengthen and develop China’s economy, although his level of success in this area is debatable. Immediately after victory in 1949, Mao began to nationalise and centralise all private industry. In 1953, the first of the Five Year Plans, based on the soviet economic model began. The emphasis was on growth and heavy industrial development, utilising sensible economic policy. In economic terms, the first Five Year Plan was relatively

Since the reform and opening up, the economy of China grows significantly, as an emerging economy, China's economy has made tremendous contributions to the global economy, and Renminbi has become one of the most important currency in the world. According to the survey conducted by China National Bureau of Statistics found that from 1979 to 2012, China has attained an annual average growth rate of 9.8% for its national economy, while the annual average growth of the world economy is only 2.8 % during the same period. In past 30 years, China's GDP surpassed Japan’s, China became the world 's second largest economy, in addition, the huge total volume of trade makes China become the world 's largest trading nation. The contribution of China’s

The formation of the People’s Republic of China in 1949 started extensive development in China. This was all or-castrated by China's communist leader Mao Zedong. There were many positive developments socially in China. For example, due to the great support from the peasants Mao decided to reward them by giving them land that was once leased to them by the landlords. This lead to about 500000 landlords being prosecuted and sentenced to death or forced labor camps. These reforms in 1951 were a big development in china as it was the first time the peasants seemed to be represented let alone a stake in China. Along with this development of Chinese peasants owning their own land there was a 22% increase in grain yield the following year after their reforms however, this is limited in that during the great leap forward in 1958-62, Mao brought in new legislation that all farms would be made into large communes under state control, run by the PLA (People's liberation army). The limitation showed in this point is that Mao was reversing his decision to give the land to the peasants but also this lead to the great famine where 30,000,000 people died as a result due to production of food falling by 63% and

In accordance to this, China went on a construction binge. Whole factories were purchased from abroad while others were built with local resources. By 1978, the frenzy for new projects reached a level that reminded some people of the Great Leap Forward. In an effort to promote agricultural production, the government released many of the restrictions on the 'spontaneous capitalist tendencies' of the peasantry. (173) In the late 1980's, the government decided to expand the scope of private marketing. The next step was to increase the amount land assigned to the peasants. The peasants were now not responsible to the government for the use they made to the private plots. They simply could grow what they wished, for the sale to the government or to private markets. This led to furious rebuilding and inflow of foreign investments. All this enabled China to remake itself into Asian's hub of finance, trade and culture.

The internship was offered to twelve law students who demonstrated academic competency and a broad range of personal attributes including interpersonal and communication skills, commitment to teamwork, cultural sensitivity, leadership, personal drive and motivation. The internship was predominately based in Phnom Penh, and involved travel to Siam Reap, Battambang, and Ratanakiri provinces.

When China was developing in the past decades, China was in a state what experts called as a catch-up mode. It is undeniably true that the oversized population of China had helped tremendously in developing its nation. This key factor, especially when combined with rapid urbanization, benefits of education and government aid, had really launched China from its stagnant point and made China an economic giant.

Unlike other communist nations such as the Soviet Union, China adopted a gradual approach and it succeeded in making a relatively smooth transition from a planned economy to a free market economy. So far, I am more than satisfied with this course and I hope to continue my interest in Chinese economy through Xiamen exchange program.

Great Britain is currently one of the main economic potencies in the world and this is also due to the fact that they were one of the first countries in the world to take advantage of a modern economic growth method, which led to them having a competitive advantage in comparison to the other countries. Approximately 200 years ago countries were facing a state of economic stagnation denominated of Malthusian Trap, which basically meant that as the country increased the output it would also increase the population thus maintaining the product per capita. We chose to do this essay on Great Britain, as it is one of the best and most documented examples on a country, which was able to resourcefully get out of this trap and thrive by guiding its