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The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis, China in 2005 stood as the second-largest economy in the world after the US, although in per capita terms the country is still lower middle-income and 150 million Chinese fall below international poverty lines. Economic development has generally been more rapid in coastal provinces than in the interior, and there are large disparities in per capita income between regions. The government has struggled to: (a) sustain adequate job growth for tens of millions of workers laid off from state-owned enterprises, migrants, and new entrants to the work force; (b) reduce corruption and other economic crimes; and (c) contain environmental damage and social strife related to the economy's rapid transformation.

2006-11-28 21:05:11 · 2 answers · asked by Anonymous in Education & Reference Homework Help

2 answers

Where do they spend their money? China has opened her borders but her people still suffer. Obviously the government is benefitting but most likely because of corruption the advantages don't trickle down.

Any time a country transitions from an agricultural lifestyle to an industrial one there will be a flocking to the cities for work but high unemployment. Asians are very hard workers. The free enterprise system should bring the best out in them. Perhaps the government should subsidize individual companies with start up funds as long as they hire X amount of employees.

2006-11-28 21:33:39 · answer #1 · answered by Californiamama 5 · 0 0

Good luck!

2006-11-28 22:07:53 · answer #2 · answered by Chris 2 · 0 0

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