Sample Paper On China’s Growing Economy Essay
In the last two decades, China has been on a transition in the market economy and has been following up on a development path. This approach has made it possible for China to combine market mechanism with the cardinal public ownership system and bring in an epoch of unparalleled progress. Its Gross Domestic Product on average has been advancing on a 9.3% margin every year. The economic transition was not a radical undertaking, rather it was a calculated step by step move, and this has proved to be a successful method since it has limited negative impact on the reforms to a tolerable extent and avoided social unrest. The restructuring of the economy started with the rural areas, and then advanced gradually to the cities and urban areas. The success that was achieved from the rural areas gave rise to the very much-needed experience to introduce the same to the urban areas (Goldstein & Pevehouse 464).
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