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Indicators of Chinese current economic strength

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  1. Growth in GDP
  2. China's traditional mixed economy
  3. From revolution to reform
  4. China adopted an open-ended approach towards its economic reform process
  5. One of the strategies employed by china to strengthen its economy was the credit squeeze as well as imposing control over control over specific essential commodities as a way of reducing inflation
  6. The reason for the huge income disparity in China is unemployment

Growth in GDP- the reason for choosing GDP is because it has grown by a great margin when comparing 1978 and 2010. ?In the year 1978, it was US$230 only and in the year 2010 it had grown to US$4000? (Tong & Wong, 2012) this is a very wide margin.

[...] Rivers in China are over used hence dry up, the country relies on underground water, and as a result, the water table has been dropping significantly. water table is dropping at a rate of a miter per year? (Tong & Wong, 2012). This has led to almost 1500 small and large towns as well as 400 cities face water shortages. China is increasing domestic consumption to be a source of growth for the country, this is aimed at small towns, and rural areas within which millions of people need house hold commodities like TVs, cell phones, refrigerators among other things. [...]

[...] Cultural Revolution was a major drawback since it did cost China economic problems. ?Though it resulted to long term economic damage to government administration and factory management as well as the country's education system? (Tong & Wong, 2012). Great leap forward was a major drawback since it collapsed in the year 1959 creating catastrophic consequences particularly in agricultural produce as well as food shortages. The Cultural Revolution was a significant advancement to the country it made understand that stable economy is crucial for economic development China adopted an open-ended approach towards its economic reform process because it did not have any books to help them learn the way of un- planning, hence they needed something with no blueprint or detailed plans. [...]

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