advantages and disadvantages of Chinese polity
Answers
China follows the command economy approach, wherein the government controls everything....the west follows free market economy and in India we have a mixed type of economy...
The political system of India is multi-party democracy, however in China it is a single party rule and communism being a totalitarian system by design, the party which purports to rule on behalf of the people allows for a dictatorship...
So the political economy of India is open to different kinds of pressures unlike the Chinese one.
The command type economy has a few advantages and disadvantages...
the advantages are
1.Centralised tight planning-- hence no wastage of resources or output.
2.Monopolies in the private domain are absent.the state has a monopoly.
3.Emergency situations can be better managed due to central control on production.
4.Price is not determined by the market unlike free market economies but by govt.dictat..hence better price control...which is important in some situations.
5.Unlike private entrepreneurship which is driven by greed or selfish desire of the entreprneur or investor...the state economy managers are more altruistic...hence notionally no one person can actually gain over another...
the disadvantages are
1.since the views of the people are not always taken into account and production is based on a centralised decision making process..this can lead to excess production of some stuff and underproduction of other stuff...based on faulty data of the requirements.
2.China has witnessed large famine several times under communist rule.This is because rather than take care of the needs of the people, production has been oriented for other reasons of the state policy...In India post independence there has been no incidence of famine..on a large scale.
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