Rise of China as an Economic Power

Topics: People's Republic of China, Republic of China, Economy of the People's Republic of China Pages: 22 (6789 words) Published: February 16, 2012


Submitted to Submitted by: Mrs. Navjot Kaur Arpandeep Kaur MBA- 1C Roll no: 5218

table of contents
* Introduction about china
* Economic history of china
* Republic of china ( 1911- 1949)
* People’s Republic of China (1949 onwards)
* From planned economy to free market powerhouse: The post - Mao era ( 1976 onwards ) * World’s second largest economy
* Brief overview of china’s present economy
* China as world’s second largest economy
* Comparison with U.S. & Japan’s economy
* Graphical presentation of china’s economic growth
* Reasons of china’s rapid economic growth
* Forecasts about china’s economy
* IMF Report
* Other forecasts
* Conlusion

China is one of the biggest countries in the world. It has an area of about 9.6 million square kilometers which comprises about 6.5 per cent of the world total land area. Its population of more than one billion accounts for 23 per cent of the world's population. China is the world's oldest continuous civilization. World Travel Organization predicts that by year 2020, China will become the number one travel destination in the world. China is situated in the eastern part of Asia on the west coast of the Pacific Ocean. It is the third largest country in the world (after Canada and Russia). China has a land border of 22,143.34 kilometers long and is bordered by twelve countries: Korea in the east; Russian in the northeast and the northwest; Mongolia in the north; India, Pakistan, Bhutan and Nepal in part of the west and southwest; Burma, Laos and Vietnam in the south. Beside a vast land area, there are also extensive neighboring seas and numerous islands. The coastline extends more than 14,500 kilometers. ECONOMIC HISTORY OF MODERN CHINA

The economic history of modern China began with the fall of the Qing Dynasty in 1911.

* REPUBLIC OF CHINA ( 1z911-1949)

The Republic of China was a period of turmoil for China after the collapse of the Qing dynasty. From 1911 to 1927, China virtually disintegrated into regional warlords, fighting for authority and causing economic misery and contraction. After 1927, Chiang Kai-shek managed to reunify China and bring in the Nanjing decade, a period of relative prosperity despite civil war and Japanese aggression. In 1937, the Japanese invaded and literally laid China to waste in eight years of war. The era also saw the first boycott of Japanese products. Afterwards, the Chinese civil war further devastated China and led to the fall of the Republic in 1949.

* Civil war, famine and turmoil in the early republic
The early republic was marked by frequent wars and factional struggles. From 1911 to 1927, famine, war and change of government was the norm in Chinese politics, with provinces periodically declaring "independence". The collapse of central authority caused the economic contraction that was in place since Qing to speed up, and was only reversed when Chiang reunified China in 1927 and proclaimed himself its leader.

* Development of domestic industries
Chinese domestic industries developed rapidly after the downfall of the Manchu Qing dynasty, despite turmoil in Chinese politics. Development of these industries peaked during World War I, which saw a great increase in demand for Chinese goods, which benefitted China's industries. In addition, imports to China fell drastically after total war broke out in Europe. For example, China's textile industry had 482,192 needle machines in 1913, while by 1918 (the end of the war) that number had gone up to 647,570. The number increased even faster to 1,248,282 by 1921. In...
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