The Rise of China
The past four-five decades have seen China rising from a developing country to a dominant economic nation (Morrison, 2018). China has always been determined to overcome the ever-rising social, economic and environmental challenges (Serger " Breidne, 2017). Her gross domestic product has always been on the rise at a rate of about ten percent. The World Bank states that the country broke historical records of attaining sustainable development, making a significant stride in the eradication of poverty. It is reported that at least 0.8 billion people rose out of poverty during this period (Morrison, 2018).
The Relationship with the United States
The relationship between The United States and China increased considerably due to the rapid economic and social development. Total trade stood at about six hundred and fifty billion in 2017, a far much higher than five billion in 1980. The level of progress experienced by China is as a result of the formulation of sound policies that facilitate socio-economic development (Central Committee of the Communist Party of China, 2016). The country stands an excellent chance to achieve even higher despite the many challenges faced. Short, medium and long-term development plans developed by this country are meant to overcome the current obstacles to realize the desired success. Before we look at the implications of the long-term plans, it’s important to look at a few of these problems and how each of the reforms is likely to affect them. The issues have direct adverse effects on the effectiveness of the long-term plans (Morrison, 2018).
China’s Short, Medium, and Long-term Plans
China has faced numerous challenges that include: increased levels of environmental pollution, an increasing difference between the rich and the poor (Piachaud " Li, 2004), increased national debt, relative lack of a balanced economy and lack of efficiency in the financial system. Economists now see that the policies that were used by the once-poor China cannot be sustained (Aglietta " Bai, 2016). The economic growth experienced with the above challenges is so costly and poses excellent a significant barrier in the attainment of substantial economic growth. The country now seeks to develop a model termed as “the new normal,” a model that is expected to result in higher development at relatively low cost. The model emphasizes more on innovation and private consumption as the basis for the attainment of much greater socio-economic development for China.
Environmental Implications
Industrial growth results in proportionate environmental degradation due to the release of various chemicals and substances that pollute the air, soil, and water (Morrison, 2018). Industries emit poisonous gases, mostly carbon dioxide, a gas that causes global warming as a result of ozone degradation. The growth of heavy industries, therefore, exposes human beings to great danger as a result. The Chinese government has been accused of violating its environmental laws in a bid to achieve economic development, a factor that caused it to contribute to more than 50% of the amount of emitted carbon dioxide into the atmosphere. Exxon Mobil reported that the level of gaseous emissions released by China between 2000 and 1016 was much higher than that of European Union and the United States combined (Morrison, 2018).
The One-Child Policy
The vision of developing an economy that is adaptive in China relies mostly on political leadership (Meissner, 2017). China’s one-child policy has both positive and negative effects on her socio-economic development. The existence of a large unemployed population before the introduction of the system contributed to the availability of the cheap source of labor that contributed to the rapid industrial growth over the past fifty years. A point is eventually reached when the number of available workers reduces significantly, a factor that results in slower industrial growth.
Socio-economic Effects of the One-Child Policy
Researchers have however, found it hard to conclude whether the One-Child Policy has had more negative or positive results on the socio-economic growth of China (Huang, 2017). The rate of demographic growth in China has significantly reduced in the past thirty years, but again researchers are not entirely sure about the approximate percentage of the total reduction that has been contributed by the policy. The policy has possibly resulted in a significant increase in capital accumulation, something that was aimed at during its formulation and execution (Huang, 2017). This policy, however, is associated with severe socio-economic effects. Individuals have felt dissatisfied with the government over the restriction as well as a relative increase in cases of crime. Another social severe implication is the significant loss of balance between sexes in China. This is a more permanent national challenge whose reversal may take longer than its occurrence. The Chinese government has employed some policies to loosen the OC policy such as the “selective two-child policy” which allows some people to have as many as two children. It applies to couples with one member having no siblings. The policy ended in 2015 through legislation and was replaced by the “universal two-child policy which allows Chinese citizens to have as many as two children (Huang, 2017).
Conclusion
Any long, middle or short development plan established in China concentrates on industrialization because it remains the country’s primary source of socio-economic growth (Morrison, 2018; Central Committee of the Communist Party of China, 2016). Industrial growth has always had more economic advantages but has been associated with a lot of negative social and environmental implications. China should create policies that will assist in avoiding the middle-income trap. Some Latin and Asian countries started with China at the same point and applied similar growth policies but reached a point where the rate of economic/industrial growth stagnated. Even though China achieved bigger, it still has not been able to transition to a market economy fully. It is classified under “high middle-income country.” The country can only achieve a complete transition through formulation and implementation of policies with positive implications on the economic, social and environmental aspects of growth (Central Committee of the Communist Party of China, 2016).
References
Aglietta, M., " Bai, G. (2016). China’s 13th Five-Year Plan.In Pursuit of a “Moderately Prosperous Society”. CEPII.
Central Committee of the Communist Party of China. (2016). The 13th Five-Year Plan for Economic and Social Development of The People’s Republic of China. THE PEOPLE’S REPUBLIC OF CHINA.
Huang, W. (2017). Evidence Bsed Policy Making.
National University of Singapore,.
Meissner, M. (2017). CHINA’S SOCIAL CREDIT SYSTEM.
Mercartor Institute for China Studies.
Morrison, W. M. (2018). China’s Economic Rise: History, Trends,Challenges, and Implications for theUnited States.
Congressional Research Service.
Piachaud, D., " Li, B. (2004). Poverty and Inequality and Social Policy in China. London: Centre for Analysis of Social Exclusion, London School of Economics.
Serger, S. S., " Breidne, M. (2017). China’s fifteen-year plan for science and technology. Östersund: ITPS, Swedish Institute For Growth Policy Studies.
