Introduction:
China is an economic giant that has shaped the overall economic structure of the world. The traditional culture of China has also allowed for the unique system that China has. The Chinese government invests a significant portion of its money. The huge working class is a very strong asset for Chinese businesses. Because of the influence of Capitalism on the Communist country, China’s economic system allows for the existence of monopolies. China’s economy is more successful than those of other communist countries.
Background:
In the 20th century, China went through tremendous changes in the way its government was run and its economy was structured. The last dynasty of China, The Qing Dynasty, disapproved of trading with other …show more content…
To begin, China has huge lower and middle working classes. With a population of 1.36 billion, China 's population is the largest in the world (worldbank.org). Roughly 98% of it is the poor, working class (dossiertibet.it). However, the unemployment rate is only 4.1 percent (tradingeconomics.com). Most of the people in the lower classes work for businesses, usually in factories with very low wages. They provide the companies of China with cheap labor with monthly incomes as low as 93 US dollars (dossiertibet.it). Because of this, they can sell their products at a more competitive price. It also allows the businesses to have high profit margins when selling their products. China 's people and the traditional Chinese culture and its expectancy of hard work for the country has a big impact on how well China 's economic structure can …show more content…
Though the mainland does have some degree of capitalism, Hong Kong especially exemplifies this. From 1842 to 1997, the British were in control of Hong Kong. When it did rejoin China in 1997, it did so with the agreement that for 50 years after it rejoined China, Hong Kong would keep its capitalist economic system and voting system (bbc.com). The island 's companies made almost twice the amount of money that was made on the mainland since 2012. Hong Kong is the main center for investment in China. It is also the most direct link for trade with the western world (economist.com). Hong Kong 's unique form of communism is vital to the overall economy of
China is an economic giant that has shaped the overall economic structure of the world. The traditional culture of China has also allowed for the unique system that China has. The Chinese government invests a significant portion of its money. The huge working class is a very strong asset for Chinese businesses. Because of the influence of Capitalism on the Communist country, China’s economic system allows for the existence of monopolies. China’s economy is more successful than those of other communist countries.
Background:
In the 20th century, China went through tremendous changes in the way its government was run and its economy was structured. The last dynasty of China, The Qing Dynasty, disapproved of trading with other …show more content…
To begin, China has huge lower and middle working classes. With a population of 1.36 billion, China 's population is the largest in the world (worldbank.org). Roughly 98% of it is the poor, working class (dossiertibet.it). However, the unemployment rate is only 4.1 percent (tradingeconomics.com). Most of the people in the lower classes work for businesses, usually in factories with very low wages. They provide the companies of China with cheap labor with monthly incomes as low as 93 US dollars (dossiertibet.it). Because of this, they can sell their products at a more competitive price. It also allows the businesses to have high profit margins when selling their products. China 's people and the traditional Chinese culture and its expectancy of hard work for the country has a big impact on how well China 's economic structure can …show more content…
Though the mainland does have some degree of capitalism, Hong Kong especially exemplifies this. From 1842 to 1997, the British were in control of Hong Kong. When it did rejoin China in 1997, it did so with the agreement that for 50 years after it rejoined China, Hong Kong would keep its capitalist economic system and voting system (bbc.com). The island 's companies made almost twice the amount of money that was made on the mainland since 2012. Hong Kong is the main center for investment in China. It is also the most direct link for trade with the western world (economist.com). Hong Kong 's unique form of communism is vital to the overall economy of