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Need an argumentative essay on Difference between Chinas economic management style and the Western style. Needs to be 20 pages. Please no plagiarism.1). The transition from a planned economy to a mark
Need an argumentative essay on Difference between Chinas economic management style and the Western style. Needs to be 20 pages. Please no plagiarism.
1). The transition from a planned economy to a market economy has been particularly smooth with significant opportunities for entrepreneurship and expansion both at home and abroad (Long &. Han, 2008, p. 52). The market-oriented economy is vastly similar to Western economies, yet China’s economic management style differs because of the remnants of the post-Maoist market socialism (Krau, 1996, p. 96). In the meantime, the Chinese government maintains strong control (Krua, 1996, p. 96). The purpose of this research study is to determine the extent to which this mixture of capitalism and socialism in China’s economy differs from the economic management style of the West. It will be demonstrated that what makes China’s economic management style unique and different from the West is the remnants of past socialist influences, persistent government control and the adoption of a market-oriented economy. From the outset, it is worth noting that the most obvious difference between China’s economic management style and that of Western countries is China’s persistent adherence to five year economic plans regardless of leadership changes. The first five year plan from 1953-1957 was influenced by the Soviet Marist style Communism and emphasized industrial growth. At the time, the ideal economic plan for Communism was to develop industry and the economy via “heavy industry, fuels, electric power, iron, and steel, machinery manufacturing, and chemicals”.