In the Youtube video “China on Path For Sustainable Growth”, Yale University Senior Fellow and former Chairman at Morgan Stanley Asia Stephen Roach spoke about the future of China, and where he see’s the Chinese economy going in the near future. He spoke on many different interesting topics, such as boosting China’s social safety net (social security, private pensions, and insurance). He also spoke about how China needs to start moving away from manufacturing (which does not create enough jobs per unit of GDP), however if we look at the manufacturing that has been moving to India and Cambodia we can see that this has clearly already started to happen.
The main thing that stuck out to me in this video was his position on urbanization in China, and the moving of 10’s of millions of people each year from countryside to cities. “Beijing sees urbanization as China's next biggest engine for economic growth, with plans to turn 300 million rural folks into urban dwellers by 2030 — equivalent to relocating nearly the entire population of the United States” (foxnews.com). I feel that this has the potential to seriously help sustain China’s economy in the long-term, however if it is not done correctly it could result in a short-term boost in the economy followed by horrible consequences. It is the same bubble that has started to deflate with China’s cheap labor and export driven economy. The communist party in China has completely shifted their view on how to deal with the peasant society in their country, and need them to become more mainstream and depend more upon consuming rather than being self-sufficient. “This will decisively change the character of China, where the Communist Party insisted for decades that most peasants, even those working in cities, remain tied to their tiny plots of land to ensure political and economic stability. Now, the party has shifted priorities, mainly to find a new source of growth for a slowing economy that depends increasingly on a consuming class of city dwellers” (nytimes.com).
China is hoping for this shift to end in a new society-less self-sufficient- and more consumer based. My main issue with this plan is there are so many variables that have to go exactly according to plan, or the results could be catastrophic. For one, they are banking on the fact that these peasants and farmers will not only uproot their lives, and move into a more city type atmosphere, but that they will also be able to adjust to this new way of life. China has started to make changes to help with these adjustments, however this must remain their main focal point, because the future of their economy will be based on a new type of China focused more on urbanization and consumerism. “The coming urbanization plan would aim to solve this by giving farmers a permanent stream of income from the land they lost. Besides a flat payout when they moved, they would receive a form of shares in their former land that would pay the equivalent of dividends over a period of decades to make sure they did not end up indigent” (nytimes.com).
Urbanization could be great for China, or could result horribly. China’s 1958 to 1961 Great Leap Forward destroyed the environment and the results were death and famine. “The efforts so far have been uneven. Land grabs by local officials have sparked violent conflicts with
topic China, Politics and International Business focused on Urbanization in International Business by Martina Gemperlein, Teresa Hofmann, Sophia Pfundstein, Maralen Hirschberger Table of contents List of figures ............................................................................................................................... 3 1. Introduction ............................................................................................................................. 4 2. China, politics…
10/25/2012 China has scored enormous achievement in economic growth and social development since the reform and opening. Shenzhen and Zhuhai as the first Special Economic Zones have been in process of rapid urbanization for 30 years. With the reforms and opening up and China’s WTO accession the Chinese economy is facing tremendous development potential and market competition will become increasingly fierce. One common goal of current Chinese nationalists is the reunification of mainland China and Taiwan…
and urbanization Define urbanization, and associated driving force(s). * The movement of population from rural to urban areaa * The increasing proportion of a population that resides in urban rather than rural places * The physical growth of urban areas * Industrialization * Employment, education, healthcare system, civic facilites, rapid * Driving forces- Education opportunities, health care, and jobs that rural areas are lacking Indicate urbanization global/regional…
Rene Mcconnell BSS 121 2/5/14 The New York Times BY Ian Johnson Feb 1, 2014 In China ‘Once the villages are Gone, the Culture is Gone’ This article is based on urbanization and the destruction of villages. In Beijing a village of about 300 households was torn down to build a golf course, a home known to many musicians. The villages lies on what used to be a great pilgrimage route from Beijing north to Mount Yaji and…
Art Assignment- Ah Xian ‘China China Bust no.10’ Ah Xian is a Chinese born artist who has been based in Sydney since 1989. He was originally born in Beijing in 1960 and initially trained as a painter. Ah Xian is now a famous contemporary artist intrigued by the human body and how contemporary art can make it meaningful. One of the many sculptures he has created is the ‘China China Bust no.10’, which he produced in 1998 as part of a ten-piece installation for the Asia Pacific Triennial of Contemporary…
suffers Are there any benefits of having a weaker dollar? **** China is the 2nd largest economy in the world and American companies are operating in china. 25 % of corporate profit comes from china. American portfolio is benefiting from Chinese economic growth. Consumers are benefiting from low price American and Chinese products are complimentary not competitors Trade with china is creating betters jobs in the U.S. 3. China currency (renminbi or Yuan) has been undervalued, some arguing that…
by economic development may produces negative impacts to the environment. Secondly, urban expansion is a threat to the nature. He (2014) reports that urbanization has resulted a serious effect in loss of natural habitat, it will cause of declines in biodiversity directly and it may disrupt local-regional ecosystems. According to HE (2014), in China, because of the economic…
The benefits of urbanization outweigh the costs. Discuss. “Urbanization is the increase in the proportion of people living in towns and cities” (Learn on the Internet, 2008). Globally, urbanization is increasing. For example, in 1950, the percentage of urbanization was 30%, now, it is around 55%, and by 2030, it may rise to 60%. (WHO, 2010). In addition, this phenomenon usually happens in developing countries. At present, urbanization is mostly happening in countries such as China and India (Learn…
estate crash in China Name: Cookies Class: DEC 25 (3) Subject: writing explanation essay Date: March 7th, 2013 Commodity prices are constantly changing all over the world especially in countries which are developing rapidly such as China. One of the main variations has been shown at housing market. Carried out by the national bureau statistic, housing prices have raised 7.8 percent in 70% large an medium-sized cities of China. Urbanization is the main contributing…
Population Policy in Aisa - China Vs. India Executive Summary Both China and India are very important countries not only in Asia, but the world. As the largest and second largest population country in the world, their population policy has great effects on many areas of the world. Such as agriculture, economy, education. Through my project, we can find out that both China and India spend a lot of efforts in control their population and achieved some goals. China reduced population growth…