Chinese Economy: The Role Of Each Micro Region

Name: Instructor: Institution: Date: Chinese Economy Introduction China has been one of the great economic success stories of the past century. It is testament enough that sound economic planning coupled with aggressive leadership is the best ingredient for economic prosperity for any nation. For the past 35 years, China has been the most performing economy in the world, with its growth having even double digit percentages in successive years. To achieve this growth, the country had to adopt modernization techniques that would overcome its expansive landscape. Organizing the country into micro regions was one way of achieving this goal. Each micro region in the country spreads beyond the size of a province and consists of a densely settled core area. Although these micro regions have contributed immensely to China’s growth, they still need to respond to the new patterns adopted by the country. This paper aims at discussing the role of each micro region, the challenges it faces, and how it should respond to the new patterns. Northeast micro region Commonly known as “the republic’s eldest son” the northeast micro region was the earliest region to industrialize in China. The regions consists of Jilin, Liaoning, and Heilongjiang provinces. The region is characterized with abundant natural resources, extensive urbanization, and large arable land. Consequently, it’s contribution to China’s economy ranges from crops, equipment manufacturing, and animal products. The region’s industries include; steel, automobile, petrol refining, and shipbuilding. Since the commencement of the industrialization era, the industries in Northeast were powered by coal deposits, which exist in abundance in the region. It’s warm and hot weather allows it to carry out commercial farming in terms of wheat, barley, and soybeans. In recent times, the region has suffered from stagnation due to the liberalization and privatization of the economy (Fewsmith, 2016). With privatization, what were initially single tracts of rich agricultural portions have now been shared between the private entities, with each managing their sections independently. Subsequently, the rising need for economic empowerment and survival pushes other players into other factors such as natural resources. An appropriate response to this new norm involves diversification of the region’s economy. This will reduce pressure exerted on the scarce natural resources used in the majority of the industries. The Yangtze region The Yangtze region consists of the lower Yangtze, middle Yangtze, and upper Yangtze micro regions. The lower Yangtze micro region is the most developed region in China. The micro region consists of Zhejiang, Jiangsu, and Shanghai provinces. The three provinces have a population that is equivalent to 12% of the country’s total population. Among the three provinces, Shanghai is the most developed as it has a variety of economic activities. It’s contribution to the Chinese econom...