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701264
Is China's economy modern?
Description
Mind Map on Is China's economy modern?, created by Jin Park on 01/04/2014.
Mind Map by
Jin Park
, updated more than 1 year ago
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Created by
Jin Park
about 10 years ago
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Resource summary
Is China's economy modern?
China was abandoning its much trumpeted measure of 'green GDP'
GDP: A scheme to measure the cost of pollution in China
it is reducing the economic growth
economy still growing at around 10% each year in first decade of 21st century
20th century was undoubtedly a troubled time for the Chinese ecnomoy
The huge agricultural sector, which is devastated by:
War
depression
impact
Economy measures up spectacularly
Foreign Direct Investment (FDI)
cheap labour
immense importance of Overseas Chinese financial and human investment
Song Dynasty had the major changes in the Chinese economy
majority farmers were subsistence cultivators, but by the end of the dynasty, they became specialists
18th century was the golden time for China
territory expanded as the Qing conquered lands to the west and the norh
introduction of New World grains
population spread and grow
collision with imperialism and industrialization
one of major reasons that China's peasant economy from 1840s to the 1940s has come in for criticism is the turbulent nature of the times
after late Qing crisis, overall agricultural economy of China became more productive and profitable
only entered the international market fully in the modern era
Sino-Japanese War crippled China's economy
destroyed China's state-building experiment
Mao's China
new economy established by Mao by 1952
socialist command economy
suffered grievously
Great Leap Forward
import substitution
trying to become self-sufficient
low production of consumer goods
China in the global economy
Deng Xiaoping established the Special Economic Zones (SEZs) in port cities
signaled his desire to lay down the first phase of economic growth
legally protected concept of private property
countries became richer, wage became higher, and ultimately it became cheaper to move manufacturing to other countries
By 2004, the government has stressed consumption, trying to encourage the Chinese to spend more on consumer goods and services
Gov. spent more on health care, state provision, consumers
Problems of Growth
environmental pollution
overpopulations
limited oil supply
lack of water
lack of transparency and the corruption that comes along
Result: the economy is modern in 'some ways'
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