China Economic Development Essay Example | Topics and Well Written Essays - 1250 words

China Economic Development - Essay Example Chinese leader during this period attempted to transfer the heart of agriculture from traditional farming to household activities (Roche, 2010). These reforms extended to price liberalization, in a more gradual way. It became followed by fiscal decentralization (Roche, 2010). Also as part of the undergoing reforms, business enterprises managed by the state became granted independence. This means that, all the government officials found at the local levels and also managers of a number of plants had more authority (Roche, 2010). This led to the development of a number of privately owned firms within the service producing sector, together with the manufacturing sectors (Roche, 2010). Chinese banking system became diversified, and the country’s stock markets began to rise as the country’s economic reforms took hold (Roche, 2010). China began growing at a rapid pace because of these existing reforms and widely opened the shut doors of its economy to the entire globe for tra de opportunities and direct more foreign investment (Roche, 2010). As a nation, it has undertaken a slow but sure method in implementing all of its economic reforms (Roche, 2010). The country has sold the equity of a number of the country’s state banks to foreign companies and also bond markets. Its role in the international market has also grown over the years (Roche, 2010). China's Global Economy The economy of China witnessed some radical transformations after Deng Xiaoping took charge in 1978 (Roche, 2010). The country has transformed from being a highly centrally planned economy to an open economy from his era (Roche, 2010). The country has now transformed to a leading power house for the world’s economy over the past ten years. In Roche’s... this paper tells that China has also a well developed transport and railway network running throughout the country. The country has developed expressways making the container transportation effective. By late 2006, the country had six provinces with close to 2000 (km) of expressway. Also, the length of the country’s railway system is over 77 000 (km), ranking it third in the globe, next to America and Russia. Nevertheless, Japan has a more advanced and well maintained infrastructure, which undergoes regular and constant upgrading and expansion. According to Roche, the country’s private and public sectors take the responsibility of a number of infrastructural services and operate them efficiently. Japan posses a remarkably extensive and highly modern road network that consists of around 1,152,207 kilometers of highways, and 6,114 kilometers of expressways. The length of the rail network in Japan is 23,670 kilometers. More than half of Japan’s rail network is elect rified. The country is also famous for its high-speed trains. The country also has extensive and modern sea and air transport systems. The country’s communication system is also highly advanced consisting of both the public and private providers. To sum up, this paper says that China posses massive sea ports that have the most influential gateways for its foreign trade. Going by the recent record, China ranks first globally in terms of cargo through put by its weight and also by the high numbers of containers it handles.