• Login
    View Item 
    •   Oxy Scholar Home
    • Diplomacy and World Affairs
    • Diplomacy and World Affairs URC Student Scholarship
    • View Item
    •   Oxy Scholar Home
    • Diplomacy and World Affairs
    • Diplomacy and World Affairs URC Student Scholarship
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    China in the Global Economy: Market Socialism and its Pitfalls

    Thumbnail
    Author
    DeGraw, Timothy
    Issue
    urc_student; urc_student
    Date
    2005-01-01
    Metadata
    Show full item record
    URI
    https://scholar.oxy.edu/handle/20.500.12711/7122
    Abstract
    Since the reforms instituted by Deng Xiaoping in the 1970s and 1980s, mainland China has progressively grown closer to the free-market system touted by Western powers, though its transformation has been carefully monitored and controlled by the state along the way, giving rise to the description "Socialism with Chinese Characteristics. "China in recent decades has seen the growth of township village enterprises (TVEs), which gave local farmers the freedom to sell their surplus in an open market. Chinese controls on foreign investment and ownership have eased while at the same time China has also eased its pricing system from a plurality of goods whose prices were set by the state to a system in which the prices of most goods now fluctuate with the market prices. Over the past two decades China has displayed an incredible rate of growth, with real growth of its GDP at 9.1% in 2004. There still exist however, major flaws in the system such as: the contention that China deliberately uses an undervalued currency to gain the upper hand in international trade, a bloated bureaucratic system that is threatened by the shift towards a less regulated economy, a widening generation gap between youth raised in a commercial age and their elderly elites, and the continuing struggle with maintaining socialist ideals in a country that is taking on a larger and larger role in the global economy.
    Collections
    • Diplomacy and World Affairs URC Student Scholarship

    Browse

    All of Oxy ScholarCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsJournal TitleJournal IssueThis CollectionBy Issue DateAuthorsTitlesSubjectsJournal TitleJournal Issue

    My Account

    LoginRegister

    DSpace software copyright © 2002-2021  DuraSpace
    Contact Us | Send Feedback
    DSpace Express is a service operated by 
    Atmire NV