If China's economy grows as fast for the next 20 years as it has forthe past 14, it will be the biggest economy on earth: I feel that China's drastic improvements over the last 14 years areoverwhelming, with their Real GNP growing at a rate of 9% a year, whichmeans by, 1994, China's economy will match the performance of countrieslike Japan and Taiwan. China's standard of living has also increased, andthe number of people who were considered absolutely poor decreasedapproximately 63%. I feel with the vast amount of people living in China,and the economic activity booming like it is, China's exports will continueto grow, as well as the standard of living. This will create more revenue,and more capital for them to produce even more goods and become even larger,prospering as one of the biggest economies on the earth. I also feel thatChina should try to overcome its corrupt system and steadily move into afree enterprise system.Competition has been the key to China's success: I believe that competition has been the key to China's success. WhenMr. Deng opened the free market, it brought the first signs of the farmersbecoming more rich since the 1950s. His political genius allowed thefarmers to become rich. He also introduced the "open-door policy" which isproving to be very beneficial, as they follow in the footsteps of theirstrong rich neighbours. Mr. Perkins believed four conditions must be metfor a market system to work well in reforming centrally planned economy. Ibelieve if China continues to improve its productivity, and the number ofmonopolies decrease as studies show, China will move into a capitalistfront only to prosper. An Inflationary crisis within two years will testthe government's reformist mettle: The 14th Communist Party Congress, set the official seal on the fourthwave of economic reform. Market Splintering: l feel that China shouldallow labour to become freer, because this will allow workers to be better...
