Promotional writing, blog writing, branding copywriting and more. High standards and SEO qualified. Comparison of the Indian and Chinese economy By Neha Goyal on May 22, China is the fastest growing economy in the world and India is the second fastest. Together they account for a disproportionate share of global GDP growth today.
For the last half a century, Chinese industry and economy have undergone immense historic changes, bringing development, innovation and modernization to the country. In New China had to start almost from scratch, because nearly all of the industrial products we imported to the country and the state of affairs in all the branches of industry remained incredibly unstable.
Some of its branches like metallurgy, mining, energy producing industries, airplane and automobile industries were strengthened, others, including petrochemicals, computers, telecommunication equipment, instruments, meters, and aeronautics were built up from nothing.
The development of the whole industrial structure was thoroughly planned and as the result the levels of production raised considerably.
Though the levels went up the industry required reforms and development of government policies. The industrial reform provided enterprises and companies with more rights at the same time giving the owners of these enterprises more profits.
The other innovations were the extension of independent operations and implementation of the enterprise contract responsibility system, which improved the operation procedure of enterprises, influencing the enterprise itself, its workers and staff.
This system gave a perfect chance for people to take the initiative and show their creativity. The next step in the industrialization of China was introduction of foreign capital and opening to the outside world.
This resulted the establishment of many Sino-foreign joint enterprises and wholly foreign-owned companies and actually brought modernization to the enterprises both in their management and their equipmentat the same time attracting more capital to the country.
We can help with writing your research paper about China Economy now! The substantial disproportion or imbalance, existed among different industries among primary, secondary and tertiary industrieswas significantly reduced, owing to the correct steps in the government policies.
These policies had an unexpected effect — the growth of the secondary and tertiary industries along with the primary ones. International trade and economic reform have helped million Chinese to raise out of poverty since The enormous economic growth created the favorable environment for establishing new trade links.
Chinese commercial ties expanded significantly over the last couple of years. But to realize this, China has to make sure that the liberalization of the economy continues, the currency is stable and the financial system is modern and meets the demands of society and, of course, the country complies with international norms for protecting property rights.
The development of Chinese international trade influenced the economies of the other countries which supply China with various types of commodities, actively importing Chinese products.
Here are some examples. According to the statistics, the E. Sincethe E. China also enjoys the status of the second largest exporter after the U.
Chinese Exports to E. Sino-US bilateral trade is one of the most important economic ties in the world. China and USA established the formal diplomatic relations 26 years ago, leading the way into the new era of fruitful international cooperation in different spheres of economy.
Total trade with U. This year from January to October the growth in U. China today is the third largest trading partner of the United States of America, whereas U.
Imports from China include various manufactured articles such as toys, games, etc. It necessary to underline that American Exports made China the 13th largest market abroad for U.
Exports to China include, transport equipment mainly airplanes and their partselectrical machinery, office machines e. The actual state of things of Sino-U. The growth in Sino-US bilateral trade caused terrific imbalance — the existence of the U. A great number of U. These factors create political issues which influence the Sino-U.
Though some of the reforms eased political tension, the market access and IPR pirates remain extremely acute problems for the U. This amount is up Sincebilateral trade had an annual growth of 30 per cent. In bilateral trade amount reached a record figure of China-Kazakhstan trade increased 12 times and was nearly 4.
During the first five months of this year the trade amount was 2. This figure is up On August the 12, commodity prices reached their highest point in 24 years as crude oil, petrol and copper rose to records and the cost of natural gas immensely increased.Impact of Globalisation on The Chinese Economy - Globalisation is a process that refers to the increased integration between different countries and economies as well as the increased impact of international influences on all aspects of life and economic activity.
Chinese Economy (CE) Shang-Jin Wei, Director. The NBER's Working Group on China provides a forum for discussing recent research on various aspects of Chinese economic development, including China's macroeconomic policies, its trade and financial interactions with the rest of the world, potential reform strategies, and lessons from China for other developing and transition economies and from.
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A comparison of Chinese and Indian imports. Like exports, China is also one of the biggest importers and is one of the major emerging markets.
The contribution of imports to the Chinese economy is found to be consistent over the years. China’s Economic Rise: History, Trends, Challenges, Implications for the United States Congressional Research Service Summary Prior to the initiation of economic reforms and trade liberalization nearly 40 years ago, China.
Is China’s Growth Miracle Over? Zheng Liu is a senior research advisor in the Economic Research Department of the Federal Reserve Bank of San Francisco. and Kwanho Shin.
“When Fast Growing Economies Slow Down: International Evidence and Implications for China.” Asian Economic Papers 11(1, February), pp.