Intro to chinese culture Research Paper Example | Topics and Well Written Essays - 1500 words - 1

Intro to chinese culture - Research Paper Example Doug Guthrie informs that Chinese government has taken three key measures to drive forward the economic reforms in China. The first was bringing in gradual reforms driven by state government in order to make China a global economy. The Chinese government introduced both external and internal economic policies. The second was the decentralization of economic decision-making while the third was to allow private economic sector to emerge to a certain extent without authorizing rapid privatization and keeping state owned industries as such. The industries continued to remain in governmental control, but the introduction of private sector initiated competition between industries that was healthy for the economy wholly. These three measures will be discussed in detail in the following sections. The Chinese government brought reforms on global level as well as on domestic level in order to strengthen China as a global economy. The economic reforms included creation of new institutions locally as well as internationally, creation of innovated industrial strategies, development of special economic zones to attract domestic and foreign investors to invest in China and adoption of trading, exporting and developmental strategies to represent China as an economy interested in investments from internal as well as external sector (Guthrie, 2009). Export-oriented coastal development strategy implemented by Zhao played a crucial role in creating China as a leading trading economy. With this reform policy, the coastal regions became more autonomous and provided solutions for two issues, which were â€Å"employment of the surplus labor from the rural areas and improvement in industrial competitiveness† (Guthrie, 2009, p. 113) along with generating income for industrial firms. The coastal development strategy facilitated Chinese economy in many ways such as converting it â€Å"into a primary producer of goods across a number of different sectors†, bringing in â€Å"huge infusion