Modernization and Economic Development
China is the world’s most populous country,
with a population of over 1344 million, making
China one of the greatest markets. Many
countries like America or India would want to
bargain with China because of the huge
opportunities in different markets, this
stimulates the development of China, causing a
rapid economic development and
modernization to occur. So I absolutely agree
that modernization and economic development
has had only brought positive effect to China
and China’s people.
According to “ The Telegraph” published on 1st
of June in 2013, America ranked 1st and China
ranked 2nd in the world’s most powerful
economy. In these few years, China’s economic
development had expanded rapidly, causing
their world reputation to increase because of
the opening of free trade with other foreign
countries. Economic development is the process
of the economic growth, such as adopting new
technologies or changing the economic source
from agriculture based to industry based.
Recently, China is the 136th freest country in the
economic freedom index, meaning people can
control their own labor and properties in any
way they please. Resulting 0.7 point higher than
2012, this shows why China is the fastest
growing major economy. Basically, China’s
economic development is affected by their
productivity power and affects the standard of
living of the society.
During the rapid economic development, it
sure brings a lot of positive effects to the
country and people. China has the ability to
absorb technology and apply what they’ve
learnt. They have well- trained scientists,
mathematicians, engineers and experts of other
areas. Most of them have the ability to be
educated abroad to learn and observe the
technology in western countries and when they
come back, they will further develop their
knowledge,
with a population of over 1344 million, making
China one of the greatest markets. Many
countries like America or India would want to
bargain with China because of the huge
opportunities in different markets, this
stimulates the development of China, causing a
rapid economic development and
modernization to occur. So I absolutely agree
that modernization and economic development
has had only brought positive effect to China
and China’s people.
According to “ The Telegraph” published on 1st
of June in 2013, America ranked 1st and China
ranked 2nd in the world’s most powerful
economy. In these few years, China’s economic
development had expanded rapidly, causing
their world reputation to increase because of
the opening of free trade with other foreign
countries. Economic development is the process
of the economic growth, such as adopting new
technologies or changing the economic source
from agriculture based to industry based.
Recently, China is the 136th freest country in the
economic freedom index, meaning people can
control their own labor and properties in any
way they please. Resulting 0.7 point higher than
2012, this shows why China is the fastest
growing major economy. Basically, China’s
economic development is affected by their
productivity power and affects the standard of
living of the society.
During the rapid economic development, it
sure brings a lot of positive effects to the
country and people. China has the ability to
absorb technology and apply what they’ve
learnt. They have well- trained scientists,
mathematicians, engineers and experts of other
areas. Most of them have the ability to be
educated abroad to learn and observe the
technology in western countries and when they
come back, they will further develop their
knowledge,
References: China - Wikipedia, the free encyclopedia. (2013, June 2). Wikipedia, the free encyclopedia. Retrieved June 3, 2013, from http://en.wikipedia.org/wiki/China#Economy Economic Crisis: Impact on Chinese Military Modernization. (2009, April 8). Center for National Policy. Retrieved June 3, 2013, from http://cnponline.org/ht/display/ContentDetails/i/12397/pid/ Hu, Z. (n.d.). Economic Issues 8 -- Why Is China Growing So Fast?. IMF -- International Monetary Fund Home Page. Retrieved June 3, 2013, from http://www.imf.org/external/pubs/ft/issues8/ International rankings of China - Wikipedia, the free encyclopedia. (2013, March 15). Wikipedia, the free encyclopedia. Retrieved June 3, 2013, from http://en.wikipedia.org/wiki/International_rankings_of_China Is China industry Modernised?. (2009, July 26). Social Science Research Network. Retrieved June 3, 2013, from papers.ssrn.com/sol3/papers.cfm?abstract_id=1437972## Modernization. (2013, May 31). Wikipedia. Retrieved June 3, 2013, from http://en.wikipedia.org/wiki/Modernization The world 's most powerful economies - Telegraph. (2013, June 3). Telegraph.co.uk - Telegraph online, Daily Telegraph, Sunday Telegraph - Telegraph. Retrieved June 3, 2013, from http://www.telegraph.co.uk/finance/globalbusiness/9765161/The-worlds-most-powerful-economies.html?frame=2425673 era. (2013, June 2). Science and technology in the People 's Republic of China - Wikipedia, the free encyclopedia. Wikipedia, the free encyclopedia. Retrieved June 3, 2013, from http://en.wikipedia.org/wiki/Science_and_technology_in_the_People 's_Republic_of_China#Awards