Week 14 - Website Study Guide(2)

Week 14 - Website Study Guide(2) - Week 14 - INTB 3351...

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Week 14 - INTB 3351 History of Globalization Reading and Web Site Study Guide Reading: HBS Case, “China: Building ‘Capitalism with Socialist Characteristics” Websites: Financial Times, People’s Republic of China at 60 (explore the timeline) BBC, Modern China (explore the various graphics) NYT, “Choking on Growth,” Part 1 NYT, “Choking on Growth,” Part I V NYT, “A Work f orce for the World,” (For NYT websites, explore the slide shows, video clips, and interactive graphics; the associated articles are optional) 1. What does the phrase “capitalism with socialist characteristics” mean? It is referring to how china is known for its socialist policies and yet there exist a slow integration of capitalist within the Chinese market. How can China been seen as both a capitalist and socialist nation? In the 1990s, it had likewise started to restructure its stagnant industrial sector, wooing foreign investors for the first time and channeling investment funds to the state-owned enterprises. These policies had catalyzed the country’s phenomenal growth, but they could no longer be relied upon to propel the economy much further. Instead, China had to take what many regarded as the final step toward the market, liberalizing the banking sector and launching the beginnings of a real capital market. 2. What were the objectives of the “Phase One” (1978-1983) and “Phase Two” (1983-1988) reforms of Deng Xiaoping?(HBS, pp. 6-8; China at 60 slideshow) Phase One - Reform in countryside, along with gradual opening to the world economy. o Farmers allowed to produce on their own and sell surplus production and other cash crops; state prices raised, and prices for many agricultural goods left to market. o Household Responsibility System – communes established by Mao broken up and replaced with system of leases that brought land tenure back to the household level (ownership, however, remained collective).
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This note was uploaded on 08/10/2010 for the course INTB 3351 taught by Professor Priest during the Spring '08 term at University of Houston.

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Week 14 - Website Study Guide(2) - Week 14 - INTB 3351...

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