China Unbalanced

Topics: Economy of the People's Republic of China, Developed country, United States Pages: 3 (919 words) Published: November 27, 2012
China “Unbalanced”

Continual economic growth for the past 30 years has allowed China to rise as an economic power. As the Chinese manufacturing industry continued to grow many of the people moved from rural areas into urban centers. The continued economic growth has taken China from a poor country to the 2nd largest economy in the world. Using many of the principals of capitalism China has overcome obscurity and increased exports to the point of drawing a large trade surplus with Europe and the United States. The growing wealth of China has drawn much criticism form the global leaders as trade deficits rise. China has continued on policies of currency fixing and implementation of subsidies that are consistently controversial with the World Trade Organization (WTO). Continued pressure from global leaders for currency reform and trademark infringement violations have forced Chinese officials to take actions.

China’s increased wealth did not immediate result in increased funding for social programs. Health care, public education, workers benefits, and social security are all lacking or nonexistent. The government is faced with the difficult prospect of developing social programs, revising the work system, and ensuring employment remains low.

Health care for many years not an issue for the Chinese people as a program termed the “iron rice bowl” ensured the people that health care would be available and at an affordable cost. The “iron rice bowl” was no longer available to the majority of the Chinese’s and health care had become a concern to millions of people. Failed programs in the past had encourage improper diagnoses and the over subscribing of antibiotics. Restructuring became a priority and the government has contributed large sums towards improving coverage and facilities. Universal health care is expected to be a possibility in the coming years for all Chinese.

The Chinese people have traditionally been a nation that saves the majority of their...
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