Question

Evaluate the various factors that led to the rapid growth in economic development in China.

Answer 1

Factors that led to the rapiy growth in economic development of China are :-


• Labour supply 

There is a plentiful supply of workers in China with a steady stream of rural-urban migrants in search of work.


• Wages and unemployment 

The unemployment rate has fallen in recent years to just over 4%, but high rates in the past drove down wages


• Female participation in the workforce

• Political System

• Strong leadership 

Chinese politicians are said to feel a greater responsibility to the nation than to themselves. Strong leadership from the head of state has been a major factor contributing to economic success. 


• Education 

Literacy levels of China have risen dramatically over the past 20 years and now stand at 95%. This has underpinned the economic development of the country.

• Being Global

China is connecting itself to many rich countries.

• Availability of Raw material.

Answer 2

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✥ The Establishment of infrastructure in the areas of education and Health.

✨Land Reforms.

✤ Long Existence of small enterprises

✚ Decentralised Planning.

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♦ These had helped positively in improving the social and income indicators in the post reform period.

♦ In Agriculture, By handling over plots of land,to individuals for cultivation, has brought property to a vast number of poor people.

♦ It Created conditions for the subsequent phenomenal growth in rural industries and built up a strong base for more reforms.