Economics the Rest Essay - 1464 Words

BSB 113 Economics Semester 2 2011 Assessment 2: Research Summary Submission date: Friday 23rd September Name: Michael Andrew Smith Lecturer: Louisa Coglan Tutor Name: Wasantha Athukorala Student Number: N7408625 Word Count: 1086 Introduction The purpose of this research report is to provide an overview of China’s economic growth in relation to the long term economic growth drivers. Critical assessment will be made on the growth drivers to determine whether they lead to long term economic growth. China’s Economic Growth Since the market orientated economic reforms were introduced in 1978 (Khan, Hu (1997, P103) China’s economy has seen a 10% increase in Gross Domestic Product (GDP) Per year (Vincellete, Manoel,†¦show more content†¦Government spending looks at the different areas the government spend money such as infrastructure (busways, trains, bridges). These decisions are made by the government and so paid for by the consumer. Government spending can be seen in China with the 1,200 square kilometre Liangjiang region in western China expected to become one of the nations most significant development zones (Ryan, Wyatt (October 3, 2010). Imports and Exports are the commodities in which a country brings into a country (Import) and those domestic commodities that are sold to other countries (Export). Both economic drivers are crucial when increasing GDP due to their ability to strengthen the value of a countries commodity. Key Economic Drivers in China The Chinese president is looking to boost consumption and import as part of efforts to restructure its economy (Hu Looks to Boost Chinas Consumption, Imports, (April 15, 2011). The Chinese energy consumption has been predicted to soar to 68% higher than that of the USA by the year 2035(China, India to lead energy consumption, (September 20, 2011). Investment spending is also set to increase from $12,633 billion (2011, 48% of GDP) to $29,628 billion by 2030 (38% of GDP) (CHINA - Gross fixed investment (% of GDP) from 2011 to 2030, EIU Country Data). In 2006 China had a rating of 5.00 and was seen ranked at 101st in terms of the degree of economic freedom as measuredShow MoreRelated‘Countries at Very Low Levels of Economic Development Face Such Huge Challenges That They Cannot Hope to Address Them Without Assistance from the Rest of the World.’ to What Extent Do You Agree with This View?1909 Words   |  8 Pagessustainable living for the population. Of the 50 countrie s recognised as LDC’s, 33 are found in Africa, south of the Sahara with 374 million living on an income of less than $2 a day. It seems that without a doubt these countries need assistance from the rest of the world in order to develop, but the type of assistance in order to enable this development more effectively is still being carefully speculated. While governments and non- governmental organisations continue to give more and more aid to theseRead More‘Countries at Very Low Levels of Economic Development Face Such a Huge Challenge That They Cannot Hope to Address Them Without the Assistance from the Rest of the World’ to What Extent Do You Agree with This View?1881 Words   |  8 Pages‘Countries at very low levels of economic development face such a huge challenge that they cannot hope to address them without the assistance from the rest of the world’ To what extent do you agree with this view? [40] In this essay I shall try and explore if countries of low levels of economic development; LICs, can only develop if they receive aid from already developed countries; HICs. 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Many researchers have tackled the issue of the persistence of historical institutions (e.g. Acemoglu, Johnson Robinson, 2001; Dell, 2010) and their effects on economic outcomes. While most of this research has focused on legal institutions and their consequences, researchers have recently started to explore the persistence of less quantifiable institutionsRead MoreThe Quiet Revolution: Jean Lesage653 Words   |  3 Pagesa crucial role in the modernization of Quebec in a short period of time after recuperating the province from the â€Å"Great Darkness†. While the rest of Canada was undergoing innovation, Quebec fell behind due to Maurice Duplessis. After the death of Duplessis, Lesage ran for Premier and was elected in 1960. He promised to improve Quebec through social, economic and cultural changes and proved so by creating programs and replacing ot hers. 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The rise of the west was from the fifteenth century until the eighteenth century. It comprised of the Christian transformation, scientific revolution , and the industrial revolution. In the Christian Reformation, there was a detachment amongst chapelRead MoreThe World s Tallest Building And The Wealthiest Man From The United States1418 Words   |  6 Pages a world where technology advancements and economic successes are all being witnessed outside the good old United States. Prior to The post-American World, America dominated in nearly every area of success including economics, politics, science, and culture (2). The post-American World isn’t one where the United States does not exist or even an anti-America like the phrase may suggest. However, The Post-American World illustrates, â€Å"the rise of the rest† or the growth of countries like China, IndiaRead MoreInequality And Violence During The United States943 Words   |  4 Pagesof violence in the author s opinion, they are worrying. Violence is closely linked to economic inequalities, ethnic or gender caused in most cases by a capitalist and militarist system exacerbated. It is not a violent act placing toxic waste in minority communities or expose the humblest workers to harmful conditions for their health and that of your family? In America it is given more priority to economic violence to peace, â€Å"over 80 percent of the U.S. population is in the bottom four categories-Read MorePost American World Essay1289 Words   |  6 Pagesexplicitly – in contributing to the debate on whether America is still the sole superpower, nor is he keen on using that debate as a point of entry. Indeed, as he makes poignantly clear in the first sentence of the book, his interest is in â€Å"the rise of the rest,† and it is only in the final third of the book (circa p.182 onwards) that Fareed ponders â€Å"how America will fare in the new world.† The Post-American World begins with the observation that over the last five hundred years, the world has seen three