Saturday, April 04, 2020

China’s Economic Growth and Its Implication for the World

First, the author reviews the economic developments of China in the past, especially since the start of economic reforms in 1978, which was sound policy, taking advantage in resources and labour force, political stability and peaceful environments; making full use of international integration and globalization; high savings for re-investment. With the economic growth, it is expected that China will catch up with America in 15-20 years’ time.

The second part deals with the following implications on the world: First, China will contribute to forming large-scale world markets unprecedented in history; thus in turn generating important driving forces for world economic growth; Second, China, thanks to its economic growth, will play more important role in world and regional governance, strongly affecting international economic order as well as the rules of the game.

Third, with stronger competitiveness and larger market share, China will push up competition, creating more difficulties for producers in other countries.

Fourth, the strong growth of China will push up prices of various kinds of goods in the world, especially fuel and basic raw materials.

Fifth: The imbalance in world economy will worsen the clash between China and related countries.

So the economic growth of China will bring about both positive and negative impacts on the world economic developments.

Please buy the package to read online !


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