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Surname 1
Name
Instructor
Course
Date
Politics in Asia
Question 1
Chinese Economic Growth
In 1978, China managed to end state control of productive assets in which the new
government embarked on major economic reforms to transform the country. To awaken the then
dormant economy, the government encouraged the formation of private businesses and rural
enterprises. The government then liberalized foreign trade and investments that were made
towards improving the economy of the dormant economic giant. Looking back at these reforms,
it is clear that they worked for the best of the country. China is currently one of the largest
economies in the world as well as the largest exporter in the world. The following are the factors
that led to China’s economic growth.
Labor Supply
China is one of the most populous countries in the world with over a billion citizens. The
large population contributed t plentiful of workers in the country who could work for the
enterprises that the government was supporting. The large amounts of workers also streamlined a
steady rural to urban migration in which people were looking for new opportunities.
Surname 2
Mechanization in rural areas led to unemployment in the rural areas leading to many unemployed
people. The voluntary movement of the people led to re-planning schemes in which the
agricultural villages were demolished to pave the way for manufacturing settlements that could
support the unemployment people who filled the farming villages (Yao n.p). Urbanization in the
rural areas led to high employment rates and innovation which led to China becoming an
exporter of many manufactured goods. The large population also meant that many products
could be produced and sold for relatively low prices in third world markets which boosted its
growth.
Open Borders
Considered to be one of the ...