Econ 5420 essay
China’s Market Economy in the Long Run
For the majority of the last 2000 years Asia has been at the dominance of the world development in terms of GDP. China + Japan at the lead have accounted for roughly 25 to 35 percent of the world GDP until the late 1800s when US and UK combined for the lead in the share of GDP. China had become the worlds poorest country and Japan had been militarily governed while the rest of Asia was fighting amongst the Cold War. Until of late (peaking in 1950) the western societies have been at the lead, but important factors are changing things. Now they are equaling out in the share of world GDP.
A reason may be for Europes favor of the clash of civilizations I sfound in their interstate systems during the centuries leading up to this eclipse like change for world dominance in GDP. Europe constantly competeted for the greatest military and geographic expansion leading to constant fighting and military preparation. This lead to technological advancement in arms and a new round of wars unparalleled in destructiveness.
In retrospect East Asia was largely at peace with one another. For 300 years they were at peace and showed no tendency to build overseas empires leading to no competition and lack of military advancement.
Also trade long distance trade was far more important source of wealth and power for European than for East Asian states. European rulers thus fought endless wars to establish exclusive control over trade with Asia. These controls established great amounts of wealth and political dominance among European countries.
In the Qing rule the early Ming’s policy privileged domestic over foreign trade. Reduced protection costs throughout the empire and reduced the taxation throughout the kingdom.
In other words the extroverted European developmental path was remaking the world through a process of creative destruction that would soon overshadow all the Asian achievements. The sea exploration ahd superseded the steppe
For the majority of the last 2000 years Asia has been at the dominance of the world development in terms of GDP. China + Japan at the lead have accounted for roughly 25 to 35 percent of the world GDP until the late 1800s when US and UK combined for the lead in the share of GDP. China had become the worlds poorest country and Japan had been militarily governed while the rest of Asia was fighting amongst the Cold War. Until of late (peaking in 1950) the western societies have been at the lead, but important factors are changing things. Now they are equaling out in the share of world GDP.
A reason may be for Europes favor of the clash of civilizations I sfound in their interstate systems during the centuries leading up to this eclipse like change for world dominance in GDP. Europe constantly competeted for the greatest military and geographic expansion leading to constant fighting and military preparation. This lead to technological advancement in arms and a new round of wars unparalleled in destructiveness.
In retrospect East Asia was largely at peace with one another. For 300 years they were at peace and showed no tendency to build overseas empires leading to no competition and lack of military advancement.
Also trade long distance trade was far more important source of wealth and power for European than for East Asian states. European rulers thus fought endless wars to establish exclusive control over trade with Asia. These controls established great amounts of wealth and political dominance among European countries.
In the Qing rule the early Ming’s policy privileged domestic over foreign trade. Reduced protection costs throughout the empire and reduced the taxation throughout the kingdom.
In other words the extroverted European developmental path was remaking the world through a process of creative destruction that would soon overshadow all the Asian achievements. The sea exploration ahd superseded the steppe