China's Economic Policy

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Even though the state of China resembles more like a post-socialist state, leaders of the state were heavily inclined towards a radical perspective since Mao Zedong was a founder member of the Chinese Communist Party. One of his main policies was the Great Leap Forward, which aimed to transform their agricultural industry into an advanced socialist economy through collectivization of different industries. Unfortunately, it did not work as expected since its implementation just shrank the economy at an alarming rate.
China’s historical policies also draw from realism as demonstrated on the Tiananmen Square protests of 1989. According to realists, states are unitary actors that tend to pursue their self-interests. These self-interests and
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China’s main policy issues.
2.1 South and East China seas sovereignty.
The problem:
Territorial disputes between the Philippines, Vietnam, Brunel, and Malaysia in the South portion of the sea, while Taiwan and Japan on the East part. In addition, China insists on solving their conflicts bilaterally, and so far, they will not comply with external authorities like the international standards set by the United Nations Convention on the Law of the Sea.
Value of the disputed areas:
Besides maritime claims among sovereign states, the Spratly and the Paracel Islands are also involved. The interests extend from acquiring fishing areas for exploitation of crude oil and natural gas as well as major shipping lanes. By the numbers these particular regions are of great importance for the development of the economy of the contending states. Namely, 5.3 trillion in total trade passes through the South China Sea every year, it contains approximately 11 billion barrels of oil, 190 trillion cubic feet of natural gas, and 90% of Middle Eastern fossil fuel exports are projected to go to Asia by 2035 (U.S. Energy Information Administration).
Major parties involved and their
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The U.S. established new sanctions against North Korea; however, since the U.S has few ties with North Korea to cut, the efficiency of the international sanctions will largely depend on China’s involvement.
China’s position:
China is one of the most important North Korea allies, and also one of their biggest trading partners. Which means that any sanction could also put Chinese companies in a tough spot. Although China and the United States share the same short-term interests regarding North Korea’s nuclear program, both parties disagree on the right form of approaching the problem since China favors a more diplomatic way, but the U.S. favors more economic sanctions.
China’s priorities:
China’s major concern is the stability of the Korean Peninsula. Beijing has advised authorities not to abuse on constraints against North Korea, fearing that an excess of economic barriers could cause a collapse which will cause a massive refugee influx from North Korea to Beijing. China affirms that such an abrupt event would cause economic problems for both

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