Lastly, there are examples of countries that have not developed according to the model. Stages are skipped, countries start at different points of the model, and some develop in different phases all together. For example, Canada and Australia managed to achieve the stage of High Mass Consumption before they had reached Maturity (Gould,1972). Rostow 's model leaves out even the possibility of countries developing outside of Capitalism. Though most countries have chosen to develop according to western capitalist approaches, some developed on methods that were socialist, some even have begun shifting their policies to that of a more socialist country. China is an example of a country that did not develop according to Rostow 's model. Rostow stated …show more content…
This model reflects the current position of China 's development showing that it in fact is a credible model of development. This model splits the economy into a low productivity rural section and a high productivity industrial sector. This model focuses more on the distribution of resources, peoples life chances, and why development is expected to be different in certain places. This model allows people to understand that even within one country, development is not equal for all. This model shows the inequalities in development, where there are still people who depend on agriculture for their livelihood, while the industrial sector expands and grows offering up jobs and a great chance for economic growth. Here it is seen that development does not help out those in the agricultural sector but as seen in present day, the Chinese manufacturing sector has successfully grown into a contending player in international trade (Welker, 2012). Therefore Rostow should not limit his model by making everything equal for all, as it is seen that countries develop unevenly, with aspects of ideologies such as socialism, or they skip stages all together making his model seem less
Fan, G., and X. Zhang. "How Can Developing Countries Benefit from Globalization: The Case of China." Eldis. N.p., n.d. Web. 20 Apr. 2014.
The Res Gestae was written by Augustus shortly before his death in 14 AD. It gives details about his life and many achievements as the first Roman emperor. The main purpose of the Res Gestae was for Augustus to preserve the memory of himself as a great emperor whose achievements transformed Rome into a great empire. The original was transcribed onto a pair of bronze pillars in Rome following his death but it didn’t survive. There is a copy that exists in Ankara, Turkey in front of a temple for Augustus.
Sitting close to the edge of being a “developing” and a “developed” country, China is a difficult country to define neatly. It is a country with an ancient and traditional culture trying to position itself higher within the international community. Plus it is also a communist country that has come to embrace its own form of capitalism to fuel its economy. China’s economic boon has been beneficial to many people within the country. But not to all people within China evenly.
Yang, D 1996, Calamity and reform in China: state, rural society, and institutional change since the great leap famine, Stanford University Press, Stanford, California.
In States vs. Markets, Herman Schwartz presents two economic development strategies that have been employed by late industrial developers in order to either take advantage of existing comparative advantages or facilitate rapid industrial growth through state intervention and provision in order to gain a competitive foothold in world markets. Schwartz demonstrates how China was able to employ elements of these development strategies to generate capital from an abundant rural labour supply in order to pursue industrial development and attract foreign investment through economic reform starting in the late 1970's.
China has a list of problems while maintaining one fifth of the world’s population. It covers around the same geographic area as the United States, but has twice the amount of problems, along with five times the amount of people. They have not had a lucrative past, and their future does not either. In order to fix such problems, the Chinese government has taken miniscule actions to further aid their country (Riley, China’s Population).
Since 1978, this aforementioned economic growth has been occurring under a communist government (Dellios). China operates in a system described as “socialism with Chinese characteristics”, a common theme in this country’s rise in the modern world (Dellios). Correspondingly, according to Rosita Dellios, Chinese communists adopted this political regime under Mao Zedong, which led to its economic revolution in the 20th century. This formula proved successful as it initiated the Chinese Communist Party, amending China’s interior chaos (Dellios). Therefore, China’s communist control did not negatively affect China’s economic growth, as communism rehabilitation drove this country into modernization in the 21st century.
In the first part, we are going to take a closer look at China’s economy by analyzing its external trade relations within the region...
Morris, D., 2009. Feeding China. In: T. O. University, ed. U116 Environment: journeys through a changing world, Block 5, 'Changing China'. Milton Keynes: The Open University.
From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.
In addition to this, agricultural policy under Mao broke the link between rural and urban economies. It established an agricultural sector that was isolated from the urban economy. Th...
When the new Chinese Government was set up in 1949, the new government faced a lot of problems. First on their agenda was how to re-build the country. As Communist Party of China (CPC) is a socialist party, their policies at the time were similar to that of the Soviet Union’s. Consequently, the CPC used a centrally planned strategy as its economic strategy when it first began. For a long time, the Chinese economy was a centrally planned economy in which none other than the state owned all companies. In fact, there were absolutely no entrepreneurs. As time went on, the problems of a centrally planned economy started to appear, such as low productivity, which was the key reason for restricting the development of China. With the population growing, the limitations of the centrally planned economy were clear. In 1978 China started its economic reform whose goal was to generate sufficient surplus value to finance the modernization of the Chinese economy. In the beginning, in the late 1970s and early 19...
...st and stand in the world. It is predicted that China will one day be the largest economy growing country in world. They continually growing and rebalancing their world to be the best. The growth of economy will depend on the Chinese government comprehensive economic reforms that more quickly accelerate in China transition to a free market economy. The consumer demand, rather than exporting the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental. (Morrison, 2014,para2)
Having thrown open its doors to capitalist investment and expanded at a miraculous rate over the past three decades, China has now surpassed Japan to become the second biggest economy in the world. Since the early 1980s, China's economy has metamorphosed from a centrally planned syst...
The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.