What Makes China’s Economy So Fast-growing And Lucrative?
Posted by China Sourcing CommentatorAug 22
- China is surrounded by countries with also dynamic economies (Korea, Russia, India, Thailand, even Taiwan and the rest of Southeast Asia).
- It is a huge market of 1.2 billion people.
- The current economic environment fosters foreign investment, strong local entrepreneurship and development of stock market.
- Low-cost labor has earned the country the monicker “factory of the world” due to more developed countries outsourcing some productions to China.
obstacles… inefficient state-owned enterprises; large economic disparity; still large number of poor people (despite data that says 8% are below poverty line); increasing demand for energy; increasing cost of food; increased urbanization/industrialization has led to increased pollution and threats to environment; lack of quality regulation; lack of IP enforcement.
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Openness to the productive foreign investment, a whole lot of workers without a whole lot of rights, access to resources and markets domestically and all over the developing world.
Child labor
the desire to make rich
a wide acceptance of hard-working style
strong competition between people
government logical control other than market control
strong political leadership other than democratic blaming games
China manages economic growth like we manage a war
we manage our economy like they manage their cooking