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Mathematics & Economics
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English (U.S.)
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China's economy. China today. Economics Research Essay

Essay Instructions:

We examine the nuances of China's economy, which has been characterized by impressive growth for the last two decades.  As you reflect on why and how this marked growth has occurred, reflect on how both central planning and economic liberalization have come into play.  How important is central planning and control in China's economy today?  Do you expect this role of central planning to grow or decline in the future?  Explain your answer.

*Be sure to cite the readings and/or David Dollar's presentation in your essay.

 

Materials

  1. Watch: David Dollar: “China’s Changing Role in the Global Economy”

https://www(dot)youtube(dot)com/watch?v=VAOaCwRP9mo

2. Hernandez and Zhao 2017 NYTimes

 https://www(dot)nytimes(dot)com/2017/09/27/world/asia/china-pyramid-schemes.html

3. Veeck, Gregory and Clifton Pannell. 2016. “Economy: A Preface to China's Changing Economic Geography” in Veeck et al. 2016.  Pp. 212-240.

(1) responds to all aspects of the prompt, (2) use concrete examples from the text(s) to validate your response and be sure to cite (page numbers needed and accurately cites at least one explicit point/argument in the reading(s)), and (3) draws connections across two or more of the readings.

 

Essay Sample Content Preview:
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China’s Economy
The Chinese economy in the past years experienced slow growth rate due to the economic reforms put in place during the Maoist period. Following the slow growth, China adopted the centralized mode of economic operation in which the state acted as the central power in the planning and directing of the entire nations’ economic system. This centralized planning saw the Chinese economy grow significantly throughout the years until it emerged as a world economic power. This is also attributed to the adoption of a mixed economy in which China had both a free market and a command economy. China’s high growth rate was because the country exported its products at a high rate while using low costs of manufacturing and labor (Veeck & Pannell, 236). While a liberalized market removed all trade barriers, a command economy gave the central government the power to make all economic decisions.
In China today, central planning has been instrumental in making the country experience high economic growth rate in the recent years. With this, the state was in charge of all economic activities in a way that ensured stability. While this worked previously, the idea is no longer working given that China’s economy is rapidly slowing (Veeck & Pannell, 237). This is because the ruling party decided to loosen controls over the economy through economic liberalization and allowing a free market. The adoption of a mixed economy has desta...
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