Warning: Use of undefined constant referer - assumed 'referer' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 102

Warning: Use of undefined constant host - assumed 'host' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 105

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 106

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 109
Privatization And China Economic Reforms - Papers

Privatization And China Economic Reforms

CHINA ECONOMIC REFORMS AND WASHINGTON CONSENSUS

Privatization

Private ownership in China was simply unheard of before 1978 reforms, however Deng Xiao Ping in early 1980s allowed local villagers to make their own decisions regarding distribution of land and production level. However no private land ownership was permitted which meant staying within the economic policy parameters, they were granted the permission to decide on the level of production. This resulted in the formation of Family Responsibility system, which gave certain degree of autonomy to villagers where production was concerned. State owned collective land was divided among villagers and families and they were allowed to ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

slightly inefficient compared to completely private organizations because of unnecessary interference by local officials. Under all these conditions, State Owned enterprises kept thriving because of lack of serious competition. They had certain areas built for their workers where they were provided housing facilities and other essential amenities. However in 1990s, SOEs began to suffer and their production level came down. This resulted in loss of jobs for many workers and also resulted in privatization of urban housing. This meant that where previously the enterprise owners provided workers housing facility, they were now forced to pay for the same amenity. But there was no other way to compete with rising cost of living in urban China where impact of free market system was rapidly affecting all sectors of economy. With privatization of housing system, demand for other related goods and services increased considerably thus resulting in more economic activity and more ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.


Already a member? Login

t produce much and thus contribute very little to the economy. However millions of Chinese workers are associated with these enterprises and shutdown would raise unemployment level dramatically. Thus state owned enterprises and banking system are interconnected however the latter is less inefficient than the former as SOEs are manly dependent on soft budget loans that have kept them afloat since a very long time.

More successful move

Moving to international trade has been a much more successful strategy than shifting to market prices. This is because prior to 1978, foreign trade was simply non-existent. However today it forms 25% of the economy, which makes it clear that it has ...

Succeed in your coursework without stepping into a library.
Get access to a growing library of notes, book reports,
and research papers in 2 minutes or less.


CITE THIS PAGE:

Privatization And China Economic Reforms. (2015, December 10). Retrieved March 19, 2024, from http://www.essayworld.com/essays/Privatization-And-China-Economic-Reforms/105262
"Privatization And China Economic Reforms." Essayworld.com. Essayworld.com, 10 Dec. 2015. Web. 19 Mar. 2024. <http://www.essayworld.com/essays/Privatization-And-China-Economic-Reforms/105262>
"Privatization And China Economic Reforms." Essayworld.com. December 10, 2015. Accessed March 19, 2024. http://www.essayworld.com/essays/Privatization-And-China-Economic-Reforms/105262.
"Privatization And China Economic Reforms." Essayworld.com. December 10, 2015. Accessed March 19, 2024. http://www.essayworld.com/essays/Privatization-And-China-Economic-Reforms/105262.
JOIN NOW
Join today and get instant access to this and 50,000+ other essays


PAPER DETAILS
Added: 12/10/2015 04:23:16 AM
Category: Economics
Type: Premium Paper
Words: 1347
Pages: 5

Save | Report

SHARE THIS PAPER

SAVED ESSAYS
Save and find your favorite essays easier

SIMILAR ESSAYS
» Chinese Economic Reform Under C...
» Comparing EU Economics And Deve...
» Reasons For The Fall Of Sociali...
Copyright | Cancel | Contact Us

Copyright © 2024 Essayworld. All rights reserved