The economic position of the Chinese People's Republic

Marian Edward Halizak

Ekonomia journal, 2001, vol. 3

Abstract: The economy of the Chinese People's Republic with respect to the magnitude of the GNP (according to the buying power) is located in the second place after the USA. If the hitherto trend of its development will be maintained, then about 2015-2020 it will overtake the economy of the USA. Implemented since 1978 the policy of reforms has led to an unprecedented opening to the world, which is demonstrated by the following numbers: the seventh place in the world with respect to the magnitude of foreign trade and the third place in the world with respect to the cumulated value of accepted direct investments 350 billion US dollars. The expected acceptance of the Chinese People's Republic to the World Trade Organization at the end of 2001 will make the process of opening irreversible and what is more important it will force pro-market changes in the economy and first of all the reform and privatization of the sector of state enterprises. A very essential feature of the Chinese economy is a pro-effectiveness development implemented on the basis of educated manpower, efficient allocation of production factors and the influence of direct investments. The danger and barrier for the development of the Chinese economy are the too large differences between the eastern and western part and the supply barrier from the domestic sources of energy carriers.

Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://ekonomia.wne.uw.edu.pl/ekonomia/getFile/417 (application/pdf)
no

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eko:ekoeko:3_106

Access Statistics for this article

More articles in Ekonomia journal from Faculty of Economic Sciences, University of Warsaw Contact information at EDIRC.
Bibliographic data for series maintained by ().