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The Chinese Economy
 

The Chinese Economy

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A presentation on the economy of China and its growth through the decades.

A presentation on the economy of China and its growth through the decades.

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    The Chinese Economy The Chinese Economy Presentation Transcript

    • From Communism To ‘Social’ Capitalism
    • China: An Introduction
      • Chinese Civil War ended in 1949
      • Communist Party of China came to power
      • Started out on a socialist path
      • Complete government control on market
      • Adopted ‘Market socialism’ in 1977
    • The Economy of China
      • GDP : $4.33 trillion
      • Industrial Contribution: 48%
      • Focus on government control of markets and firms till 1977
      • Political ideology shaped economic discourse
    • Chinese Economy: 1949 - 1980
      • Big Push Strategy: Socialist Heavy Industry
      • Abolition of private ownership
      • Government controlled land and labor
      • Technologically sophisticated, large-scale, capital-intensive plants were setup
    • Chinese Economy: 1980 - 1990
      • New perspective: Economic policy separated from ideology
      • Focus on raising personal income and consumption
      • Private ownership, enterprises encouraged (SEZ)
      • Move towards are a market economy with government controlling heavy industries
    • Chinese Economy: 1990 - 2000
      • Move towards a ‘Socialist Market Economy’
      • Government followed “Grasping the large, letting the small go” philosophy
      • Self-sufficiency in food, double real income per capita,
      • Boom in private sector, encouragement of competition even with state owned enterprises
    • Chinese Economy: 2000 - Now
      • Focus on more balanced wealth distribution and improved education, medical care, and social security
      • Over 10% growth in GDP in 2003, 2004 and 2005
      • Rising inequality of income – 35% live under $2/day
      • Future problems: ageing population, acute environmental damage due to industries
    • Chinese Economy: Govt. Role
      • Government planned and managed the economy since 1949
      • Top-down flow of command – 100+ ministries for economic activities
      • Gradual reduction in government role since 1978 reforms
      • FDI has increased, SMEs dominated by private sector
    • Chinese Economy: Problems
      • Systematic problems: corruption, environment issues, underemployment, unemployment
      • Steady increase in inflation rates on an year-on-year basis
      • Shortage of gasoline and diesel fuel
      • Food shortages following February 2008 storms
    • Thank You The Chinese Economy