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Deng - • 85 of goods in wal-mart made in china • Moving...

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Deng’s revolution Why has China experienced rapid industrialization since 1978? What are the consequences, domestic and global, of China’s remarkable growth? Why has political reform (democratic, pluralist, etc.) not accompanied China’s economic transformation and the growth of the private sector/middle class? Key Terms: 1) Deng Xiaoping 2) Four Modernizations 3) Household Responsibility System 4) Special Economic Zones (SEZs) 5) “One Country, Two Systems” 6) “State Capitalism” 7) Tiananmen Square 8) Kelle Tsai, Capitalism without Democracy I. Introduction: China’s Third Revolution? o · 10% Annual Growth Rate – 3 rd largest economy in the world 80% of china’s economy is in private hands 2% controls 85% of china’s wealth “World’s factory” 50% of world garments are produced in China
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Unformatted text preview: • 85% of goods in wal-mart made in china • Moving quickly to biotech, aerospace • There is no alternative to Chinese goods, where else are you going to get this stuff so cheap? GDP • 1978 c. $100 billion • 2010 c. 4.9 trillion ($8.8 trillion PPP) vs. USA - $14.2 trillion • 2009 A Slow Year for China – 8.7% o · China’s Trade Growth o Trade Surplus with United States - exports more than it imports, particularly large with the us 1990 $10 billon 2007 $250+ billion • · China’s Currency Reserves (c. $2 trillion) • · China’s Oil Consumption ( vs. USA ) o Needed to continue the industrial revolution • · China CO2 Emissions • · Chinese Military Spending • · Infrastructure (Physical, Technological, Human) o The Three Gorges Damn o Shanghai Skyline...
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