advantages and disadvantages of Chinese polity
Answers
Answer:
Explanation:
China is a communist country which is ruled by a single party. It follows a command economy pattern where the government controls every resources of the country.
The following are some of the advantages of command economy followed by China.
1.Control over wastage: Since the country follows a command economy where the government has the say over the usage of resources there is no wastage on account of both output and resources.
2. Eradicates Monopoly: Private dominance is not visible in such economy as state controls everything.
3.Efficiency during emergency : During emergency situations management of resources are dealt in an efficienct manner as the state has supreme control over production.
4.Price stability: Under this economy price variation is hardly visible unlike free market which is under the influence of supply and demand situation. The government under the command economy controls the price of the product thus keeping inflation in check.
5. Under this economy the Government is more into the well being of the people and are not driven by greed or selfishness.
Disadvantages
1. Production variation: This economy is often faces the situation of over or under production. This is because no proper is consultation is made in this regard with other concerning parties.
2. Ignoring the needs of the people: Since the production is directed as per the command of the Government they often lack the specific requirement/ needs of the common people.
Hope this helps.