nd for themselves. Historically, each governmental liberalization of the past has resulted in a wave of capitalistic activity. Market driven socialism and totally free markets are two very different entities, and the Chinese government is faced with decisions of how much control they will levy on a freer market system. "Indeed, Jiang’s plan is so sweeping that it could unleash perhaps the largest wave of corporate restructuring, mergers, and acquisitions the world has ever seen" (Clifford et al.). Certainly, China is poised to become the world’s next economic super power. Their success in attaining that status will depend largely on how they collectively deal with their existing and future economic issues, however. China recognizes the necessity of radical changes in some of their current practices, most notably the ownership and operation of state enterprises. The same country, though not the same government, that formerly would have termed capitalism "evil" is now embracing it by "feeling one stone at a time." With the passage of Jiang’s proposed measures, however, they nearly will be diving in head first. But China has quickly become a world leader in trade and will only increase in importance to the global economy. These facts are proven with China’s current economic statistics-growing at over nine percent per year- and economists’ projections of the nation’s future- China will double its GDP of the year 2000 in the year 2010. The way the Chinese government achieved these impressive economic figures are through a thorough renovation of Chinese trade policies. Reform measures in the country range from reduced trade barriers and technical contracts for agriculture, to infrastructure investment policies and improved standards for pharmaceutical products. If China continues on their present course of taking necessary actions while continuing to invite foreign investment, then they will indeed be on th...
