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Chinas Economy Essay Example

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Chinas Economy

Chinas Economy. In the 1980s, China registered an acceleration in its gross domestic product. In this period, the GDP accelerated from 9.1 percent to 9.5 percent. The GDP further registered a significant growth recently to ten percent as a result of the large impact of growth in productivity. This growth was registered in the same period that rates of employment among the Chinese population dropped to below one percent from three percent. This mirrored the decrease in working age population. The one-child policy could be highly attributed to this. Additionally, since its alarming statistics in population, China registers a constant reduction of its population (Chang & Peter143). The service sector, the non-state sector, and the state sector registered significant growths of productivity in the 1990s.

This occurred despite the decrease in growth of productivity within the tertiary sector. On the contrary, other factors within the economic growth fields registered significant increases. Beginning from the 1990s, growth in capital stock contributed to the proliferation of productivity in all sectors. This contributes to the most recent leap in gross domestic product from 6.25 percent in the 1980s to 9.25 percent in the recent past (Eichengreen, et al 56). Additionally, China may record a decrease in its revenues due to decreasing working age population despite an increase in capital investments. Also, the many individuals have opted for ancillary sector employment. This resulted in an increase in productivity within the same sector. In addition, the tertiary sector made the significant increase to forty percent from thirty percent. During this time, the primary segment registered a decrease from thirty-two percent to eight percent (Eichengreen, et al 58). In the year 2011, China’s secondary and tertiary and primary sectors contributed the nominal value of shares collectively. The later contributed forty-seven percent while as tertiary and primary sectors contributed forty-three and ten percent respectively. Chinas Economy.

Work cited

http://ec.europa.eu/trade/policy/countries-and-regions/countries/china/

Ackerberg, Daniel , Caves, Kevin & Frazer, Garth. "Structural identification of production functions," MPRA Paper 38349, University Library of Munich, Germany. 2006

Brandt, Loren , Van Biesebroeck, Johannes & Zhang, Yifan. "Creative accounting or creative destruction? Firm-level productivity growth in Chinese manufacturing," Journal of Development Economics, Elsevier, vol. 97(2), pages 339-351. 2012

Brandt, Loren, Chang-Tai Hsieh, and Xiaodong Zhu. “Growth and Structural Transformation in China.” In China’s Great Economic Transformation, edited by Loren Brandt and Thomas G. Rawski, 683 –728. Cambridge University Press. 2008

Chang, Tai Hsieh & Peter, J- Klenow, 2007. "Misallocation and manufacturing TFP in China and India," MPRA Paper 35084, University Library of Munich, Germany, revised 15 Jun 2007.

Chow, Gregory C., and Kui-Wai Li, “China’s Economic Growth: 1952-2010,” Economic Development and Cultural Change, 15(1),pp. 247-256, Oct6ober 2002.

Eichengreen, Barry, Donghyun Park, and Kwanho Shin, “When Fast Growing Economies Slow Down: International Evidence and Implications for China,” NBER Working Paper 16919, March 2011.

Holz, Carsten, “New Capital Estimates for China,” China Economic Review 17(2), pp. 142-185, 2006.

Li, Kui-Wai, “China’s Capital and Productivity Measurement Using Financial Resources,” Yale University Economic Growth Center Discussion Paper 851, February 2003.

Needham, Joseph, and Colin,Ronan, “The Shorter Science and Civilisation in China: An Abridge -ment of Joseph Needham’s Original Text”. Cambridge and New York: Cambridge University Press. 1978

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preview essay on Chinas Economy
  • Pages: 7 (1750 words)
  • Document Type: Research Paper
  • Subject: Macro & Microeconomics
  • Level: Undergraduate
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