Economic Development of China Term Paper

Pages: 13 (3647 words)  ·  Bibliography Sources: 0  ·  File: .docx  ·  Level: College Senior  ·  Topic: History - Asian

Chinese schools do not encourage self-expression or individuality, but focuses on the belief their destiny in life was predetermined before they their birth. Chinese education emphasizes the Confucius teachings, which teaches that they cannot defy their pre-determined purpose in life.

As China's economic development emerges, (which will be discussed in detail later) their education system is undergoing quite a few considerable changes. Teaching hours are going to be drastically increased, and more subjects are going to become mandatory. In the past, China schools have not given teachers any guidelines or a specific curriculum for teaching certain subjects. This is all about to change, the schools in China are going to have a specific goal for teachers to accomplish, and for students to pass each level, a certain level of knowledge will be acquired.

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One of the factors China seems to be considering important is the teaching of history subjects. History was not one of china's previous concerns, and was only required for tow semesters at the junior level. Chinese history only taught background material covering the Chinese culture and history, which was appropriate, because China was an economically independent nation for its banking, education, finance, commerce and insurance arrangements. Up until an agreement with the World Trade Organization, which was a result of their recent bankruptcy, China did not trade with any other nation. Now, in the process of these changes, and perhaps a stipulation of the World Trade Agreement, China's education in world history has now become mandatory, in order to protect the nations best interest. Incorporating more history academics into the Chinese education system is not the only advancement that China is undergoing; it is making other improvements as well.

Term Paper on Economic Development of China and Assignment

The leading role of students in the epistemological process of teaching and learning has been raised to prominence, but at the same time, the guiding role of teachers have not been neglected. This has changed the conventional giver-receiver relationship between teachers and students and ahs given rise to a new cooperative relationship between those who guide and those who learn. Attention is paid to motivating students to use their hands, mouths, and brains in learning, thereby strengthening the training of students' skills and abilities. Emphasis is laid on the systematic nature of historical knowledge and on making it more visual. Priority is given to the content of the textbooks, thus raising the efficiency of learning"

Qingjun, Chen, no date).

No sources could be found on the development of the Korean education system, this may be because the media and the government is focusing more on the economic development of China, instead of Korea, but this is only an observation. The education system was discussed in detail, because the way the students are taught effects the entire nation, and since the attack on America, this may be expanding to all of the nations. Also, education is an ongoing process, not just merely ending when one finishes high school or college. Education training continues through ones professional career, and as new technologies are developed, the economy is always changing and progressing, therefore new procedures must be constantly changed and applied. Knowledge of a nations education system and it's acceptance to changes, gives insight on which nations are going to progress more profitably and economically.


From this point on, this essay is going to discuss the details of the economy, and compare China and Korea's economic changes and developments. As we all know, the September 11 th bombing did not only attack America, although it was named "Attack on America," it attacked the world, remembering that it was the World Trade Center, consisting over 90 nations involved in this building. This attack, along with the Enron Scandal, and now the MCI, and possibly Xerox downfall, is affecting nations, and nations that are already economically underdeveloped, has hit an all time bankruptcy.

I do wish to point out, however, that the September 11 th attack should not have so much effect on the economy in America as it does. Since President Busch is backing up Enron, because Enron contributed to Busch's campaign, I do believe that the Bush administration is using the attack on America to take the focus off of the Enron scandal. But if this is true, this is only a temporary fix. As the MCI and possibly the Xerox corporations fall, the facts will become obvious, and the true reasons why worldwide economies are falling will eventually emerge. I do not believe that the economy in any nation will improve until Enron loses its ability to divert the attention on the September 11th attack. In all the sources founded on favoring China's economy, I cannot help but think there are some possibilities of Bush controlling these statistics, for reasons no one in America can yet see.


Korea's economy potential does not seem to be as strong as China's economic growth potential, according to the Korean Herald, 2002. "For any potential investor, questions about Korea will arise, because it is a big political risk. Uncertainty is an important criteria in selecting a country to invest in" (Mi-Hui, Kim, 2002). As mentioned before, the media has a considerable amount of control of which nations actually develop; the research found seems to be favoring China as a stronger country for economic progress.

Another reason for the seemingly greater risk difference in Korea, is the realization that trade with other nations may not be as convenient because Korea is surrounded by an island. Korea also has weaker telecommunication potential, a weaker government and a weaker military, that makes it less competitive with China. However, as far as a tourist attraction, Korea, surrounded by beautiful beaches would seem to be a great investment, but the management of investments may not run so smoothly. (Mi-Hui, 2002).

As far as technology wise, Korea is still behind in its technology, and business practices. In comparison, it has not been founded where Korea entered a trade agreement with the government, where as China did, and this may also decrease some of the potential economic growth for investors.

Financial experts have encouraged Korea to incorporate English as a mandatory second language in their education system, but Korea has not responded to this suggestion, although China has. Despite the bad publicity about Korea's economic and education standards, this is not to say that Korea shows no potential for economic growth, statistics just points out that Korea may be less competitive with other countries concerning economic development.

A recent Newspaper source shows an economic growth rater for Korea averaging 3.7%. Another risk for economic investors, is the silence of the statistics. "Korea does not release economic statistics. Korean officials calculated their estimates with data collected from international aid groups and other sources " (NA, 5/2002)

In the past several years, Korea has gone through its ups and downs of economic development, but after the last downfall, was revived by funds from other nations. Korea's economy did show rapid progress in the year of 1999. Foreign aid was an economic salvation for Korea at this point. "North Korea's foreign trade totaled 2.27 Billion dollars last year, a fraction compared to South Korea's 291.5 billion trade volume in the same year, according to the South Korean Bank" (World stream, 2002).


There is much publicity about the economic growth of China's potential, and the majority of the publicity is very favorable. Experts agree that China is the investor's best choice, and that it carries the less risk. China will be investing in the newest and latest technologies, including the latest telecommunications.

Telecommunications allows faster business agreements and arrangements, contracts can be signed in a matter of minutes, between two or more parties, all within thousands of miles away from each other, sells can be more easily made, purchases made faster, are possibilities thanks to DSL internet, cell phones, lap-top portable computers and faxes. When a nation is willing to invest in telecommunications, it is making a statement that shows its seriousness and commitment to progressing and succeeding economically.

China has made undeniably remarkable progress recently, showing improvements in every area of economic development and growth. Before China hit bankruptcy, it was an independent nation, and did not trade or make business arrangements with other nations. All of China's financial institutions were independently state owned, and could depend on its own easy resources when the nation became financially troubled.

Where once China was able to boost the economy by releasing the pent-up power of sectors restrained by Maoist folly, it has now run out of easy sources of new growth potential. It must get the marketplace to deploy labor and capital much more efficiently. Both are still being stifled by government interference" (Lardy, Nicholas, 2002).


The two biggest changes China is making which is directly impacting the chances for economic prosperity for this nation is it's changes in leadership, or change of politicians, and its decision… [END OF PREVIEW] . . . READ MORE

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APA Style

Economic Development of China.  (2002, June 28).  Retrieved July 10, 2020, from

MLA Format

"Economic Development of China."  28 June 2002.  Web.  10 July 2020. <>.

Chicago Style

"Economic Development of China."  June 28, 2002.  Accessed July 10, 2020.