The Rapis Growth Is China Is a Economic Success but an Environmental. to What Extent Do You Agree? Essay
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The rapid growth of the Chinese economy is an economic success story but an environmental disaster- discuss the truth of this statement
China has been achieving an impressive rate of development of its economy and increase in its regional / global economic and political influence. There has been speculation about its future potential to act as a major driver of the global economy, and whether its methods will provide the model that others will now seek to emulate.
China's economy is huge and expanding rapidly. In the last 30 years, the rate of Chinese economic growth has been almost miraculous, averaging 8 per cent growth in Gross Domestic Product (GDP) per annum. The economy has grown more than 10 times during that period, with Chinese GDP reaching 3.42 trillion US dollars in 2007. China already has the biggest economy after the United States and most analysts predict China will become the largest economy in the world this century.
China’s population in 2010 was 1.341 billion, and it’s expected to grow to 1.375 billion in 2015. In 2010, China’s unemployment rate stood at only 4.1 per cent, decreasing 4.65 per cent from the previous year and expected to decrease further to 4 per cent in 2011. Forecasts for 2015 predict China’s unemployment rate to remain at 4 per cent between 2011 to 2015.
However, there are still inequalities in the income of the Chinese people. The per capita income of China is only about 2,000 US dollars, which is fairly poor against global standards. Economic reforms started in China in the 70s and 80s with the initial focus on collectivizing agricultural activities in the country. The leaders of the Chinese economy, at that point in time, were trying to change the centre of agriculture from farming to household activities. The reforms also extended to the liberalization of prices, in a gradual manner. The process of fiscal