Economic Case Study
China’s economic growth and development
One of the many ways that China was able to develop and grow at such a high growth rate is due to the four factors, land, labour capital and enterprise. The fact that China is such a huge country they can use that land as minerals, since china has a lot of minerals available china are able to use that minerals into exports or to be inject into the economy by building roads or building to further increase GDP. Another way why china is growing so fast is that china had around 1.3 billion people, therefore the labour power of china is higher than most countries around the world, with that much labour power and the price of the labour china was able to use that advantage into creating facilities, mining, and producing goods instead of making machines which may in the long run cost more that labour. When labour is that high the capital out from the labour and land is also going to be high, with that much capital most of the products won’t be used by the people inside the country therefore exports are the only way to make a buck or two out of the capital, this also increases the GDP, and lastly the way that china’s growth rate has increase is due to enterprise. Even though china is a communist country, the government was smart to allow private properties and possession this means that it will allow the people of the country to buy and spend money, choose a job, and most importantly have their own business. Some business can contribute more than half the country’s economies; this is another reason why china is growing so fast. Some other less important plans that china is growing are supporting greener growth, by helping China shift to a more sustainable energy path; enhancing urban environmental services; promoting low-carbon urban transport; promoting sustainable agriculture practices; piloting sustainable natural resource management approaches; demonstrating pollution management; and strengthening mechanisms for managing climate
One of the many ways that China was able to develop and grow at such a high growth rate is due to the four factors, land, labour capital and enterprise. The fact that China is such a huge country they can use that land as minerals, since china has a lot of minerals available china are able to use that minerals into exports or to be inject into the economy by building roads or building to further increase GDP. Another way why china is growing so fast is that china had around 1.3 billion people, therefore the labour power of china is higher than most countries around the world, with that much labour power and the price of the labour china was able to use that advantage into creating facilities, mining, and producing goods instead of making machines which may in the long run cost more that labour. When labour is that high the capital out from the labour and land is also going to be high, with that much capital most of the products won’t be used by the people inside the country therefore exports are the only way to make a buck or two out of the capital, this also increases the GDP, and lastly the way that china’s growth rate has increase is due to enterprise. Even though china is a communist country, the government was smart to allow private properties and possession this means that it will allow the people of the country to buy and spend money, choose a job, and most importantly have their own business. Some business can contribute more than half the country’s economies; this is another reason why china is growing so fast. Some other less important plans that china is growing are supporting greener growth, by helping China shift to a more sustainable energy path; enhancing urban environmental services; promoting low-carbon urban transport; promoting sustainable agriculture practices; piloting sustainable natural resource management approaches; demonstrating pollution management; and strengthening mechanisms for managing climate