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Economic Development of China

Economic Development of China. National Interest of China. Economic development Territorial integrity Peaceful Rise / Improved international standing Creation of a socialist harmonious society. GDP. US $5,926,612,009,750 http://data.worldbank.org/country/china. Deng ’ s reforms.

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Economic Development of China

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  1. Economic Development of China

  2. National Interest of China • Economic development • Territorial integrity • Peaceful Rise / Improved international standing • Creation of a socialist harmonious society

  3. GDP • US $5,926,612,009,750 • http://data.worldbank.org/country/china

  4. Deng’s reforms • ‘Special socialism’ • Market Communism • Deng: “No matter if it’s a white cat or a black cat; as long as it can catch mice, it’s a good cat.”

  5. Issues with the reforms • Created a two tiered system – the SEZs and the state run industries. • What does this do for social cohesion? • Corruption – Tiananmen Square protests. • Reconciling the Maoist Ideology with Deng’s reforms.

  6. Currently in China… • China has risen to become the third largest global trader • Trade for 2004 was over US $1.1 trillion • Trade for 2009 was over US $2 trillion (I think) • Trade for 2010 was over US $2.8 trillion • Trade for 2011 was over US $3.6 trillion

  7. Hu Jintao says… • “We must focus on economic development as our central task, making development our top priority and facilitating all-round progress in economic, political and cultural aspects and in the building of a harmonious society. • “China will unswervingly pursue a basic policy of opening up to the rest of the world and will further pursue our economic and technical cooperation with the rest of the world.”

  8. FDI

  9. FDI • 2007: $160,000,000,000 • 2008: $175,000,000,000 • 2009: $112,000,000,000 (GFC) • 2010: $185,000,000,000 • Why is this important for China’s economic growth?

  10. Timeline • 2000: achieved Most Favoured Nation status with the US • 2002: Joined the WTO • 2003: dropped average tariffs from 56% in 1982 to 11 % in 2003 • 2004: allowed private ownership of homes

  11. Practice SAC Questions • Define ‘power’ in the context of global politics. • Explain how the PRC has tried to achieve their goal of ‘economic development’. • Explain how the PRC has been hampered in achieving their goal of territorial integrity.

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