Chinas Economic Condition Essay Example | Topics and Well Written Essays - 500 words

Chinas Economic Condition - Essay ExampleFactors that contribute to this are the political organisation in China as well as the economic ashes.Market strength is achieved when a hunting lodge is able to put all of its resources to use in order to reach a full direct of production. The resources that a society has to employ are labor, land, entrepreneurial ability, and capital (Campbell & Brue, 2004 24). It has also been noned that market efficiency cannot be obtained unless there is a healthy level of competition present (Clark, 2007989).Chinas, known as the Peoples majority rule of China, is lead by the Chinese Communist Party. In a communist remains, the government owns most property, resources, and businesses. They gather in major decisions as to what and how much will be produced. In this type of system, leaders are not elected they are appointed by the CCP and have emerged from within the ranks of the party (Eui.com, 2008). In this type of system there is belief that al l resources should be allocated equally amongst the citizens, however this is most often times is not the case.In 1978 China initiated free market reforms, which was a major change in its economic system (Eui.com, 2008).