BBC: China new leaders: challenges ahead
1) Define economic reforms.[2]
2) Explain the reasons that improved the of millions of chinese.[6]
3) Analyse the problem of chinese ruler in the transforming economy into more freer one.[6]
4) Comprehend and explain the indicator of growth in an economy in the given text. [8]
5) Using information given in the news article and your knowledge of economics, evaluate the role of government in the Chinese economy. [5]
1) Define economic reforms.[2]
2) Explain the reasons that improved the of millions of chinese.[6]
3) Analyse the problem of chinese ruler in the transforming economy into more freer one.[6]
4) Comprehend and explain the indicator of growth in an economy in the given text. [8]
5) Using information given in the news article and your knowledge of economics, evaluate the role of government in the Chinese economy. [5]
1. Economic reforms is the situation where there will be improvement in effective economy. It means that the unproductive and wasteful government activity that involve ineffective allocation of resources will be closed or take over by the private sectors.
ReplyDelete2. Due to the economic reform, greater output produced, greater the national income and the living standard. The government state that they had intervention such as expanding health care, increasing education and poverty eradication programmes.
3. The chinese political leaders want the economy to compete with other economy such as USA. Therefore, the state-owned sector need to grow very fast because they can't depending upon the private sector to compete. The state-owned sector has greater chance to grow because they are benefited from lower interest rate bank lending.
4. The indicator of growth shown on the increase in annual disposable income for both urban and rural areas. However, there is huge inequality between rural and urban area incomes. Chinese growth also cause by the increase in energy that they generate, even though it increase the level of pollution in the country. The population in china is now under control as the government sets policy to solve the problem of over population. On the other hand when we see it on the humanity basis, it is not fair if killing girl babies. In conclusion, theoretically chinese economy is growing, but practically whats happening it may be not.
5. China government role in the economy is very powerful. They are enable the economy to compete with other developed economy. However, it is stated that they only spent about 6% from its GDP for social welfare. Which means they are more focusing on abroad competition than domestic problems. It could be concluded that the china economy is sometimes at development stage. However, their role in solving the over population problem has been successful.
-bellaalvina
Thats great Bella you have done questions nicely. Well done.
ReplyDeleteWe can improve the answer by adding more information to it like:
1) Reforms is change in old laws of government control to new regulations to promote free market mechanism. More freedom to producer, consumer. Freedom to market towards the efficient allocation of resources through price mechanism instead of government dictates.
2) Millions of chinese come out of poverty due to
a) More foreign direct investment in industrial sector
b) Greater freedom to producer to decide the factor prices
c) encouragement to new capital investment
d) Promoting protection to home industrialist in exports through subsidies
e) Encouraging the public sector industries to incease the level of production in state protection.
3) Problem is ideological how to promote free trade, greater freedom to entrepreneur which my increase social inequality which is against aims of Ghinese govt., problem of nepotism, problem of lacking independent regulating governing bodies, lacks laws to promote individualism, state influence banks, judiciary, lacking independent press, and freedom to speech.
4) done nicely, next time write in separate paragraphs and develop them according to marks distribution.
continue 5 question in next upload.