Recent Chinese Economic Policies Have Shot The Country Into The World Economy At

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Term Paper Title	Recent Chinese Economic Policies Have Shot The Country Into The World Economy At
# of Words	1180
# of Pages (250 words per page double spaced)	4.72

Recent Chinese economic policies have shot the country into the world economy at full
speed.  As testimony of this, China's gross domestic product has risen to seventh in the
world, and its economy is growing at over nine percent per year (econ-gen 1).  Starting in
1979, the Chinese have implemented numerous economic and political tactics to open the
Chinese marketplace to the rest of the world.  Just a few areas China's government is
addressing are agricultural technology, the medical market, and infrastructures, like
telecommunications, transportation and the construction industry.  Chinese reform
measures even anticipated the rush of foreign investment by opening newly expanded
industries to out-of-country investors.  Effects of this sudden change in economic strategy
by a world power can be felt by practically every nation of the globe involved in
international trade.  The change in the amount of imports and exports to and from China
will increase the demand on countless markets, from automobile, to petrochemical, to
pharmaceuticals, and optical fiber.  Also, with all the foreign investment China is
receiving, the socialistic republic will only grow more and more interdependent upon the
world economy.  However, the impressive growth rate of China's economy is not without
its shortcomings.  Problems such as inflation and inefficient state-owned enterprises plague
the rise of the Chinese economy.
     The main goal for China's modern foreign policies is the development of the
Chinese infrastructure.  The significance of improved communication and transportation
cannot be over-stressed.  Economically, enhanced means of communication and
transportation allows more expedient supply and demand scheduling.  Two of the latest
Chinese reform measures to aid in the development of the country are the Provisional
Regulations on Direction Guide to Foreign Investment and the Catalogue Guiding Foreign
investment in China.  Both these policies place specific industries including
telecommunications, machinery, and electronics on top priority.  Funding for these
projects come from foreign investments and appropriations from the Chinese government
in the form of grant financing, and legislative or administrative support.
     Yet another example of the Chinese emphasis on industrial based growth is the far-
reaching goal of having just under 100 million telecommunication lines by the year 2000.
China's Central Ministry of Posts and Communication said that in order to comple...

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