China Unbalanced Essay
In this case study, we will attempt to answer what measures China took in preparation for acceptance into the WTO and how it adjusted to its eventual admittance in December of 2001. We will also review some of the problems associated with China’s economic growth strategy.
We will begin our analysis of these questions by examining China’s economy at the time of Deng Xiaoping’s accession to power in 1978 and the economic growth strategy he and his successor implemented which ultimately led China to ascension into the WTO. We will then review various conditions imposed upon China by the WTO and how China reacted to those changes and to what extent these lead to China’s current status and interaction …show more content…
The government then used the farming surplus to finance town and village enterprises (TVEs) which produced labor intensive products such as clothing, shoes, ornaments, small electronic items and eventually automobiles for export to Hong Kong. TVEs moved from the production of low value added products into a more diversified value added product mix.Although these TVEs were owned by local or provincial authorities, the growth in their popularity (30% annually) provided employment for approximately 14% of the