Buy essay on Chinese Economy

Today, China is one of the most rapidly progressing economies in the world. The economic growth in China persists for the last couple of decades. In such a situation, it is possible to speak about the economic miracle that takes place in China. At the same time, the current economic situation in China and its dynamic development are results of the consistent changes and reforms in China as well as the recent trends in the world economy. In this respect, it is possible to single out several factors that influenced the current economic development of China, including economic reforms of the 1980s, the demographic situation which affects the local labor market, and the process of globalization.
The economic reforms of the 1980s allowed China to become the country where communist and capitalist economic systems co-exist. Such a combination allows China to keep progressing economically under the control of the state and the ruling Communist party along with the introduction of open market principles in its economy.
Furthermore, the demographic situation in China is favorable for its economic development because China has huge labor market. Due to the large number of young, economically active people Chinese economy can keep growing effectively. In addition, the cost of the labor force in China is low.
Finally, the process of globalization and relative openness of Chinese economy attracts direct foreign investments in China. In addition, Chinese goods are exported en masse worldwide. As a result, today, China holds one of the leading positions in the world economy.
In such a situation, China serves as a model for other countries, especially developing ones. On the other hand, it is important to take into consideration the lack of political freedom and limitedness of human rights and liberties that put under a threat the economic miracle in China.