Saturday, April 04, 2020

Factors for Economic Growth of China

The essay offered a number of assessments of China economic growths and its driving factors, which included the role of domestic markets, the Chinese model that stand for self-adapting and adapting to external changes; the rise of pragmatism integrating China deeper and deeper into the world economy, the writer referred to the developments of economic relations between China and foreign partners such as the U.S., Russia, Japan, India, Europe, South Korea, Philippines, Indonesia and other ASEAN countries. The article also touched upon Chinese policy in Latin America, which promote economic ties with even the countries who do not follow “one-China” policy.

In conclusion, the author pointed out some implications on the world stemming from China’s economic growth such as creating economic foundations for a multi-lateral World, marking an important turning point in the world political-economic life, ensuring sustainable development in the future etc. However, the growth will be accompanied by stronger economic competition. For Vietnam, China’s economic growth on the one hand creates positive impacts and at the same time poses challenges as well.

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