The economy of a specific developing country Essay - 1

The delivery of a specific developing country - render ExampleThe nation has experienced a major transformation from a centrally planned economy to a developed and functional market economy (Heshmati, 16). Even with the progress, China is still far from development. tenner years ago, the Gross Domestic Product (gross domestic product) of China was placed sixth largest in the world (Bailey 180). mingled with 2001 and 2010, the GDP had cast upd four times (Tselichtchev n.p.). Chinas economy has grown by 9% for the last 30 years from 1978-2004, its GDP grew by 9.7 % a year, faster than the worlds medium (Hongyi 159). In recent times, the GDP has increase by 11.3 times between 2005-2007 Chinas GDP has increased by 11%-11.6% annually (Hongyi 159). Hongyi points out that annual per capita GDP growth rate stood at roughly 7%-8% in 2010, but it is estimated be about 6%-7% by 2020 (159).The income distribution of resources has worsen due to Chinas transition to a market economy. The in equality in China is groin between the rural areas and the urban areas this is felt with the unequal distribution of resources. The inequality is felt by the increase of the rural wage employment and increased inequality of distribution of resources of urban income. The income inequality has been brought about by economic reforms, and began when the rural areas began being deprived of resources. Even with the new reforms, the poverty rates have increased (Bergsten, Gill and Lardy 31).China is a communist country, with a communist establishment. The Chinese Government has acquired strong capabilities of macroeconomic control. The market economy in China is a kind of government led market economy, and the government has strong control of the macroeconomics (Yu 32). The Chinese Government has helped the Chinese people, like the public sector in transaction with the difficulty of globalization. Nevertheless, the Government has also hindered the Chinese people this is because of the in adequate continuity of