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CHINA IS UNDERGOING RAPID ECONOMIC GROWTH

Maggie 2020-03-10 112

Initially, the process of making economic policy in China had changed so much. At first, the economic policy in China was not yet open to outside China. These considerations were only from the government and were not based on market needs, but China began to become more open to new markets after the economic reforms under Deng Xiaoping. In his reformation, Deng Xiaoping carried out restructuring in the Chinese economic system.

 
The policy taken by the Chinese government at this time can be said to be successful in its implementation. Since the economic reforms in 1978, China experienced a lot of progress in the economic sector. One form of Chinese economic policy is that they have a five-year plan. It is a guide and goal of China's economy that will be achieved in five years. In the five-year plan, there are several sectors that are carried out modernization such as agriculture, industry, and education.
 
Many other things applied by China in the design. It can be seen that the policy is comprehensive for many related sectors. Even China responded to the era of globalization with cyberspace economic policies. The implementation of China's economic policy which was also considered successful was the time when China join in the WTO. The entry of China into the WTO has a great impact on China. Like being able to work with other regions and growth in new economic sectors in the technology and service industries.


China has also emerged as a huge power. In 2001 there were not many countries cooperating with China, so there was almost no connection to China. Or in other words, it means that around 17 years ago natural resources have not been entered much into China, and in the world of commerce not many people have considered China. But this can be overcome within the past 15 years, namely in 2016 which turned out that China has been able to become the center of world trade. One proof is the large portion of China's gross domestic product (GDP) to the total GDP of the entire world, which at present China is already around 15% of GDP compared to world GDP. Isn’t it amazing?


Other than investing in or having bilateral relationships with countries in Southeast Asia through the infrastructure built, China has also expanded its business well in Africa. As a result, Chinese writing is found in many places in the African region which shows the amount of cooperation between the two countries. The same thing is also found in cities in Southeast Asia, in border cities Vietnam, Thailand, and so on. We can also see so many Chinatowns spread al l over the world, which is the result of the impact of the enormous growth and development of the Chinese economy globally.

The Chinese government continues to make improvements and developments to make efforts to strengthen export products and enhance bilateral cooperation to compete with aggressive expansion undertaken with other countries. According to them, the important thing that actually needs to be done is to prepare and develop higher technology, and human resources quality.

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