What Factors Have Led to the Remarkable Economic Growth in China?

Abstract

A contribution of various factors, the rapid economic growth in China over the past few decades has left the international community surprised and to an extent, threatened. While some scholars debate that the influence of China’s centralized leadership was the most effective, many other scholars counter the claim by discussing the impact China’s economic reforms and ultimately, the introduction of increased Foreign Direct Investment had on the economy and its growth. In the opinion of
the author, the latter seemed more beneficial and impactful. This paper analyses the growing role played by FDI, manufacturing policies along with many others, in China’s rapid economic growth while further discussing the implications of implemented policies and models adopted on the global population and communities. The focus also lies on discussing Centralised Leadership specific to the case study of China and claiming why it did not play the most significant role. This topic was chosen because of the constant interest in the Chinese economic model from global platforms. Furthermore, since this nation has gained importance in each diplomatic decision being made, it is helpful to be aware of and analyze China’s policies thoroughly which seem to inspire many.