By Ken Moak, Miles W.N. Lee, Elliot Engel
Via an intensive research of China's fresh heritage and fiscal improvement technique, the authors of this booklet search to provide an explanation for the motives of China's financial upward push and its impression at the remainder of the realm.
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Additional info for China's Economic Rise and Its Global Impact
Premier Li Keqiang, for example, proposes building a Yangtze River industrial belt, linking Shanghai to Yunnan. The government is planning to build hundreds of new cities; the smaller ones are to be connected with paved roads whereas larger cities with a population of more than 500,000 will be connected with high-speed trains. Over the next 20 years, three hundred nuclear power generation plants will be built to satisfy the country’s increasing energy requirements. Last but not least, China is seen as a bright consumer market in terms of size and purchasing power, prompting both domestic and foreign investors to build new commercial and industrial facilities.
46 Public expenditures were largely on environmental protection, How Did China Get So Big in So Short a Time? O 27 social housing, national defense, and domestic public security. 48 Climbing the value chain is seen as the key not only to reduce reliance on foreign technology but also to sustain development. 49 To give retirees greater financial independence, the government plans to integrate urban and rural pension plans into one, giving rural pensioners an income equal to that of those living in urban centers.
Efficient infrastructure, comprehensive supply chains, and skilled labor increase Chinese manufacturing productivity and competitiveness. Other developing economies offer lower wages, to be sure, but they lack an efficient infrastructure system. India, for example, is uncompetitive in relation to China for lack of a comprehensive road and railroad system and energy sources. India also has a relatively uneducated labor force. It is also ironic that exports were helped by poor global economic prospects because Chinese manufacturing products are affordable.