Chinese Development Model for Singaporeans Essay Sample
This essay sample of the Chinese Development Model for Singaporeans, here we will discuss the What are the development strategies of China?, Elements of China’s development strategy, China’s development model has been based on Quizlet, China development program for Singaporeans, etc.
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Introduction- Chinese Development Model for Singaporeans Essay
The Chinese Development Model is a great way for Singaporeans to improve their lives. This model has been used in the past by many other countries, and it helped them develop into prosperous nations.
The Chinese development model is one of popular elaboration across the globe that reflect in its policies and known as the fastest developing country which would turn to be developed soon. The rapid growth in the economy of China since the reform that takes place in 1978 is observed and at an average growth of GDP is 8.6%.
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Main body- Chinese Development Model for Singaporeans Essay
What are the development strategies of China?
The development strategy of China is to reform and improve its industry structure, strengthen the strategic emerging industries, give full play to the advantage of the scale of exporting, speed up agricultural modernization for food security.
The development strategy of China is not just about economic growth or sustainability it also strives for social balance, environmental protection, and governing capacity.
Elements of China’s development strategy
China has a distinctive development strategy, which is founded on four key elements:
(i) China’s reform and opening-up;
(ii) The socialist path with Chinese characteristics;
(iii) Peaceful development; and
(iv) Market-oriented pragmatism.
China opened its economy in 1978 when it started on its unique economic reforms while maintaining political authoritarianism. But these reforms were not gradual enough to produce significant benefits for more than two decades. After Deng Xiaoping came to power, China revised its policies by introducing moderate liberalization that increased productivity through increased competition among companies while limiting inflationary pressures.
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China’s development model has been based on
China’s development model has been based on extensive attention to infrastructure and instituting industry regulations. This has helped maintain a healthy yet reduced GDP growth rate (6-8% according to The Economist). However, incentives such as low monetary fines, looseness in intellectual property laws, and limits on corporate governance have led the country’s economic model toward a more speculative nature that many thinks may lead to dramatic consequences.
The Economist reported that “between 2002 and 2007 investment accounted for 44% of China’s GDP – way out of line with other countries.” China also now has half as much back from those investments as it used to because fixed asset investments have now been stagnant since 2009. Government officials have found it difficult to curb this rapid expansion which has led to a bubble in China’s property market.
China development program for Singaporeans
China’s development program for Singaporeans, if properly executed, should bring about tremendous benefits to both countries. The first and most important of these is that it will cement China as a major economic player in the world economy.
We cannot know how many descendants of trade relations with China there were before 1904 (when an agreement was brokered connecting present-day Vietnam and Guangxi province) because people didn’t always register births or deaths at the time. But one thing we do know is this: Guangxi has prospered tremendously during its integration into the Chinese state and now produces more GDP than Ukraine at its height (albeit on a much smaller landmass). One can only hope that history repeats itself for Hainan and by extension, Vietnam.
The Chinese Development Model is best suited for Singaporeans. It will provide a sustainable development path that can lead to economic growth and social stability in the future, which are key components of long-term success.
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