China Flashcards
Role of Agriculture
Livestock revolution
Wheat breading
Biotechnical breeding improvements, e.g. Maize, soy bean
Beijing green Angel soil- resistant to desertification
Role of Aid
Since 1950s, been an aid receiving country
But also a donor
Role of Education
Parents huge expectations and sacrifices
1986- law making at least 9 years education compulsory
Role of Physical factors
huge coastlines, close to trade between many countries and continents.
Role of Government policies and incentives
Pushing price of agriculture products and subsidizing farmers.
Role of Manufacturing
27% of China’s workforce is in the manufacturing sector
Role of Inward investment by TNCs
Very low wages
2010- FDI $60bn
2015- now a net investor, shows economic maturity and growth
Role of International trade agreements
Invests in countries all over Africa in infrastructure and companies.
Also the ‘workshop’ of the world
China Initially
Export oriented path to industrialisation
Labour Supply
Plentiful supply, from rural-urban migrants in search of work due to agriculture mechanism
Wages and Unemployment
4% now
Higher rates drove wages down, attracted lots of FDI
Female participation in workforce
Higher than average
One-child Policy helped, made women more available to work
Political System
Planned Economy
5 year planned reforms
Accelerated growth
Strong leadership
Chinese politicians feels greater responsibility to the nation
Free Market Economics
Since 1978, has been moving away from centrally planned economy
Export-Led growth
Initially pursued by China, moving toward import substitution for growing middle-class
SEZ and FDI
FDI encouraged in particular areas, cities, where government would relax regulations and reduce tax rates
Economic Diversification
R&D, Specialist Manufacturing and Hi-Tech industry
Reducing narrow economic base
Education
Literacy levels have risen massively to 95%, huge amount of unskilled still, growing highly skilled though
Raw materials
Huge amount of natural resources reserves, also is a major importer, needs them to fuel huge industrial development
The three gorges dam
Needed to meet huge demand for energy, and wants to develop new sources
Navigation along Yangtze have also helped development
Olympic factor
Perfect opportunity to showcase nation
Social Consequences of rapid growth
Huge inequality between south+east and agricultural north
People in poorer countries benefit from their FDI
Economic consequences of rapid growth
Improved standard of living for many in its country and other countries
Environmental consequences of rapid growth
some of the worst air pollution levels on planet, global warming
high levels of sewage in water courses
Political consequences of rapid growth
Pressure of demand
altered world geopolitics by loaning money and trading actively and flexing muscle
