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revise the work according to the requirement. Need to add 1,2 pages

Requirement & Comment : "you do a good job giving background information on policies that China implemented after the 1950s. You mention the shift to private enterprise, Chinese policy of non-interference, the Confucian tradition, investments into the infrastructure, education etc. However, you end up talking about many things without an argumentative focus. The reason for this is that you do not provide a focused why question, puzzle and argument (meaning, which factors in specific lead to the rise of China). You have a very broad scope right now. Moreover, you need to make sure that each part of evidence that you provide here is directly related to your question and argument."

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Running head: CHINA ECONOMIC GROWTH CHINA’S ECONOMIC GROWTH FROM WW2 TO THE PRESENT Student Name: Course: Date: 01/31/2018 1 Running head: CHINA ECONOMIC GROWTH 2 China was a poor third world country before 1950 and was ignored and mainly isolated. The economic system in use in China then was a centralized controlled economy that was inefficient, uncompetitive and government run. The large rising population put pressure on China to rethink its economic growth model with the view of reducing the large levels of poverty. China historically has faced persistent threats namely Japan, India, and Korea as potential enemies. China’s successful economic growth is explained by a shift from a controlled economy to a market-driven economic model. China from 1949 the economy was centrally controlled. The country had high levels of poverty, inefficiency in the provision of goods and services and the country largely isolated (Morrison, 2017). China shift to the driven market model occurred 1978/79. Before the change of economic system from centrally controlled to the market-driven economy the economic growth was averaged 6.7 %, which increased to 8-10% annually after the shift. The benefits of the change in economic model gave developmental dividends to the people of China. First, there was rapid urbanization, and the government invested heavily in infrastructure. With the movement of people from the commune farms that were unproductive and overcrowded, this movement brought about a large pool of labor willing to work. Secondly, the government invested in government enterprises that took advantage of the large population as a large internal market for basic goods and services. The government encouraged private enterprises to thrive. The effect of the Chinese government actions on the economy pooled over 800 million people out of poverty. There is a large, vibrant middle class in China today (Sun, 2014). China is one of the few countries to attain all the Millennium development goals (MDG) by 2015. China has the largest manufacturing economy in the world. The large manufacturing economy is structured in a way to provide employment opportunities to the Chinese citizens. The Running head: CHINA ECONOMIC GROWTH 3 manufacturing sector from primary, secondary and tertiary industries make a significant contribution to the Chinese economy. Regarding industry structure primary (13%), secondary (51%) and tertiary (36%). In regards to employment opportunities, the industry structure shows primary (44%), secondary (23%) and tertiary (33%) employment contribution according to Morrison (2017). China’s population is estimated at 1.3 billion people. Provision of basic goods and services to a large population brings about economies of scale that is unrivaled. China benefits from both a large internal market and an external market. Chinas economy is that largest in the world in terms of purchasing power parity in addition to having massive foreign exchange reserves. China adopted one belt, one road policy to grow its private industries into large clusters for economic development. Today China is a preferred source of electronic goods, textiles, machinery and furniture in the world due to low labor costs and economies of scale the unit cost of production is quite competitive among many sectors of the economy (World Bank, 2015). The growth of private enterprise and entrepreneurs has helped propel China’s economic development. China has managed to take advantage of outsourced manufacturing facilities for large global multinational corporations (MNC). Hosting MNC contributed to the creation of jobs, technological transfer, and increased economic productivity. Alibaba an organization started by Jack Ma has been instrumental in connecting external buyers with the seller in China through technology. Alibaba is a market (virtual) where buyers and sellers meet and transact business. It is estimated that Alibaba handles over 800 million transactions a day and is one of the largest employers in China (Forbes, 2014). Its economic and foreign policy has supported China's economic growth after years of international isolation. China’s policy of one China and nonpolitical interference with countries Running head: CHINA ECONOMIC GROWTH 4 in Asia, Latin America, and Africa enabled China to court support for its international relevance in the global politics. In Africa, China is a source of direct foreign investment in addition to foreign aid. China is one of the countries with veto power in the world. China’s recognition that Africa has a potential voting bloc of 25% in the United Nations, it has worked hard to develop relationships with African countries. In exchange for the relationship with China, African countries have benefitted from infrastructural development aided by China as well as foreign aid without conditionalities favored by western nations. China, on the other hand, China gained international recognition, access to African countries markets as well as access to affordable raw materials for its industries (Sun, 2014). China offers commodity backed credit to African countries. This approach has enabled China to gain energy resources and raw materials for its industries. With the large manufacturing industries, China has managed to accumulate large amounts of foreign currency (Zhang et al., 2014). The vast amounts of foreign currency reserves enable China to buffer its economy from external threats. The massive foreign currency reserves enable China to give long-term lines of credit to African countries that would otherwise not qualify for lending. The credit extended to Africa has been increasing from $7 billion (2008), $26 billion (2013) and $60 billion (2015). In regards trade in 1950 trade between Africa and China was only $120 million compared to $10 billion 2000. The trade volume reported in 2012 was $ 198.5 Billion (Sun, 2014). China has skillfully built its soft power over time in the international geopolitics. In supporting Africa in developing its infrastructure the large projects are financed and implemented by China companies. This approach not only benefits China economically it also provides Chinese labor with employment opportunities abroad. The question remains how China has managed to outdo the western nations in doing business in Africa. The explanation is found Running head: CHINA ECONOMIC GROWTH 5 in China’s foreign policy. China adopted a noninterference policy to political issues facing African countries in return African countries recognized one-China policy that is vital to China. Secondly, China has project scouts in Africa. The project scouts identify potential viable massive infrastructure projects before conceptualization. The project scouts then liaise with the relevant government ministries and officials before engaging Chinese government officials who then negotiate government to government contracts by signing a memorandum of understanding (MOU). The Chinese have perfected the art of speed in the mobilization of resources both human resources and equipment. Majority of projects are finished on schedule without delays (Forbes, 2014). The Chinese tradition and beliefs under Confucius that promote strong work ethic, fairness and taking responsibility have built a strong work ethic culture among the Chinese. Investments in education especially mathematics and science have helped China to catch up with the rest of the world regarding technology and industrial development. China has the second largest number of business incubators and industrial parks after the United States of America. Developing entrepreneurship and high growth companies require human capital and an operating ecosystem that is supported by the academia, industry and the government. The triple helix approach has helped China develop its technological capacity and help start-up business that can scale and create massive jobs especially technology and manufacturing base (Ogutu & Kihonge, 2016). The success of China is a success story that demonstrates that it is not only democratic governments that can achieve development. It is in fact strong visionary leadership that guides countries to economic progress. Access to affordable raw materials, international markets has helped China’s economy to thrive. International projects and outsourced multinational Running head: CHINA ECONOMIC GROWTH 6 manufacturing opportunities have provided China with employment opportunities for its citizens and helped reduce widespread poverty. The large population is a source of both labor and market for goods and service. The large internal market has enabled manufacturing companies to benefit from economies of scale. Opening up its markets to market forces made China an attractive market for direct foreign investment. China is a global leader in textiles, electronics and light machinery that are affordable and popular in Asia and Africa. China’s economic success is a product of strong leadership started by Mao Zedong. Investments in human capital, education and industrial training to met workforce requirements for growth. Militarily China has nuclear power and has a vibrant outer space presence. Trade and investment are powerful strategies of not only pulling the majority of people from poverty by assisting a country to achieve exponential economic growth. China overtook Japan as the second largest economy in the world. China could only achieve this through investment in human capital, infrastructure and market development (Maktar, 2016). High population is a blessing when its potential is harnessed first as a market for consumption and second as a labor market for productivity. In brief, China has grown economically by shifting its market model from centralized control to open market model. Having a strong, focused leadership has helped China manage the large population, economic growth, and its international political relevance. Investments in education and technology are the source of China’s rapid economic growth. Foreign Capital accumulation has enabled China to be independent of World Bank and International Monetary Fund. China has two banks that support its international investments namely Asian Infrastructure bank and New Development Bank. Running head: CHINA ECONOMIC GROWTH References Forbes (2014). http://knowledge.wharton.upenn.edu/article/chinas-investments-in-africa-whatsthe-real-story/ Howell, A.J (2016). Do marshaling Sources drive technological relatedness? Implications for firm survival and subsequent success, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2865108 http://www.china-un.ch/eng/qtzz/wtojjzk/t416412.htm http://www.worldbank.org/en/country/china/overview https://fas.org/sgp/crs/row/RL33534.pdf Maktar, Diop (2016) http://www.worldbank.org/en/news/speech/2015/01/13/lessons-for-africafrom-chinas-growth Morrison, W.M. (2017). China's Economic Rise: History,Trends, Challenges, and implications for the United States, congressional Research Service Ogutu, V. & Kihonge, E. (2016). The impact of Business Incubators on Entrepreneurship Development and Economic Development. International Journal of Science and Social Research Sun, Yun. (2014). https://www.brookings.edu/research/africa-in-chinas-foreign-policy/ Zhang, Jianhang., & He. Xinming. (2014). Economic nationalization and foreign acquisition completion: A Case of China, International Business Review, Vol 23 (1), 212-227 7
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Explanation & Answer

hello. here is your paper. I have revised the following areasTo ensure argumentative focus, I have added a few disadvantages of China's market-driven economyto remain focused on the question, I have added a thesis statement and ensured that every points starts with a factor that led to China's riseI have also improved grammatical errors from 65-95%turnitin report at 3%

Running head: CHINA ECONOMIC GROWTH

CHINA’S ECONOMIC GROWTH FROM WW2 TO THE PRESENT

Student Name:
Course:
Date: 01/31/2018

1

Running head: CHINA ECONOMIC GROWTH

2

China was a poor third world country before 1950 and was ignored and mainly isolated.
The economic system in use in China then was a centralised controlled economy that was
inefficient, uncompetitive and government run. The large rising population put pressure on China
to rethink its economic growth model with the view of reducing the large levels of poverty.
China historically has faced persistent threats namely Japan, India, and Korea as potential
enemies. China's successful economic growth is explained by a shift from a controlled economy
to a market-driven economic model. This study is meant to look at various benefits and
drawbacks that have been brought about by China's shift from controlled economy to marketdriven economic model.
China from 1949 the economy was centrally controlled. The country had high levels of
poverty, inefficiency in the provision of goods and services and the country largely isolated
(Morrison, 2017). China shift to the driven market model occurred 1978/79. Before the change
of economic system from centrally controlled to the market-driven economy the economic
growth has averaged 6.7 %, which increased to 8-10% annually after the shift. The benefits of
the change in economic model gave developmental dividends to the people of China. First, there
was rapid urbanisation, and the government invested heavily in infrastructure. With the
movement of people from the commune farms that were unproductive and overcrowded, this
movement brought about a large pool of labour willing to work. Secondly, the government
invested in government enterprises that took advantage of the large population as a large internal
market for basic goods and services. The government encouraged private enterprises to thrive.
The effect of the Chinese government actions on the economy pooled over 800 million people
out of poverty. There is a large, vibrant middle class in China today (Sun, 2014).

Running head: CHINA ECONOMIC GROWTH

3

The rise in China is due to its large manufacturing economy. The country is one of the
few countries to attain all the Millennium development goals (MDG) by 2015. China has the
largest manufacturing economy in the world. The large manufacturing economy is structured in a
way to provide employment opportunities to the Chinese citizens. The manufacturing secto...


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