Development Economics Term Paper

Pages: 3 (872 words)  ·  Style: MLA  ·  Bibliography Sources: 1  ·  File: .docx  ·  Topic: Economics

¶ … Economics: Still Rolling: China's GDP Hits 8.7%

Still rolling… (Song Shengxia and An Baije, 2010) focuses on the state of the Chinese economy in a context in which 2009 was a difficult year for most global economies. China however managed to capitalize on its protectionist policies and its production and export capabilities and as such maintain a positive growth trend. Still, in their attempts to minimize the negative impact of the internationalized financial crisis, the Chinese banking sector granted more loans than normally, creating as such a risky situation of massive debt -- the very core of the current economic crisis. Aside increasing debt levels, future problems could also be posed by overproduction and incremental inflationary levels.

Yet, these are just potential threats, and one should praise the Chinese economy for making such an astonishing recovery in times of global financial crisis. 2009 did not commence in the most positive manner for the Chinese economy, especially as the growth in the gross domestic product for the first quarter (6.1%) was significantly below the target imposed by the federal authorities (8%). The growth rates of the following quarters were of 7.9%, 8.9% and 10.7%. The trend is revealed throughout the chart below:

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At this stage of the article analysis, it has to be noted that the piece is not the easiest one to read for the inexperienced reader. It assumes that the individual possesses sufficient economics background and does not introduce him to the core of the issue, but to a specific item. Probably the most relevant example in this sense is the factual and statistical discussion about the Chinese national output. Shengxia and Baije present the figures for 2009, but do not reveal the national trend in the Chinese GDP throughout the past years, with the intent of presenting the context. Yet, since this is necessary, the chart below reveals the evolution of the Chinese GDP throughout the past decade:

TOPIC: Term Paper on Development Economics Assignment

While it is clear that the article is intended for individuals with an economic background, it is also true that the topic is interesting and could attract the general public, but this general public would have difficulties understanding the terminology and the actual situation and implications, since they do not have knowledge of the actual context.

Shengxia and Baije present the growing Chinese GDP from yet another angle -- that of the regional role it played. By proving its stability, China created a favorable context for the other Asian countries, which were able to maintain their exports to the western regions of the globe. Additionally, the authors argue that the increase in Chinese output… [END OF PREVIEW] . . . READ MORE

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How to Cite "Development Economics" Term Paper in a Bibliography:

APA Style

Development Economics.  (2010, January 25).  Retrieved October 24, 2021, from https://www.essaytown.com/subjects/paper/development-economics/617935

MLA Format

"Development Economics."  25 January 2010.  Web.  24 October 2021. <https://www.essaytown.com/subjects/paper/development-economics/617935>.

Chicago Style

"Development Economics."  Essaytown.com.  January 25, 2010.  Accessed October 24, 2021.
https://www.essaytown.com/subjects/paper/development-economics/617935.