Chinese Closed-door Policy During Qing Dynasty

Chinese Closed-Door Policy Introduction The Chinese Closed-door policy is a situation wherein China closes its doors for economic, political, social, and technological opportunities with the outsiders. This means that the country prefers to establish a new way to revitalize their national interests. This is a policy that seeks to concentrate on country’s development strategy to become a self-sufficient country. This is because China has a vast arable land that is available to sustain its local and national basic needs. These are agricultural land and areas that are suitable for new factories to install their facilities. However, the closed-door policy made a significant impact on the Chinese economy. The gross domestic product plummeted due to the absence of imports and exports that affected the macroeconomic stability of the nation. Chinese economy decline During the Qing dynasty, the closed-door policy significantly degraded the competency of its economy. Trading significantly declined because businesses in the area were not allowed to either export or import their products. There were limited trading of raw materials and local products that are unable to circulate to international markets. Businesses were not allowed to engage in trade with foreign companies and customers due to the restrictions provided by the Qing Dynasty rulers. The growth domestic product and the purchasing power parity of residents and businesses across China significantly lost their investments and revenues during that time. The number of people living below the poverty line significantly increased because there are lesser institutions that are able to provide a sustainable business to generate income for the owners. This has led to a social uprising during the Qing Dynasty due to the negative impact of the closed-door policy from outsiders. Technology decline The Qing Dynasty was responsible for depressing the technological progress of China while the closed-door policy was maintained. During the four-century dynasty, there was stagnation with regard to the improvement of infrastructure. The dynasty only developed few roads, railways, bridges, and buildings due to the lack of resources from foreign countries. It significantly halted the development progression of buildings and other offices spaces across the nation due to the policy. All organizations operating in China were prohibited to be contacted by foreign organizations due to the issue of closed-door policy. Thi...