They also wanted tax breaks moreso they even wanted

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they also wanted tax breaks, moreso they even wanted to take advantage of the Chinese population becoming huge consumers of foreign goods. Disposable income is increasing among the Chinese. A lot of companies have weighed the potential negatives of doing business in china with the opportunity to become key players in the Chinese economy. With respect with these SEZ, there were other things that China had to join internationally. International trade and banking organizations… etc. TO join these organizations, the Chinese have needed to make their financials more transparent. China has also made their law system more western. The Chinese have moved away from a country who was at the mercy of the whims of CCP members, now to a country with concrete laws in place. The investment by foreigners in the SEZ zones has expanded. Foreigners have also helped fund other domestic companies. There are restrictions of what these foreign investors are able to sell in China. All of these reforms collectively have changed the face of china, the way in which Chinese eat, think, live, consume. Positives of econonimic liberalization Increase agricultural production Increased mobility – many Chinese have left to go to other countries, or even just moved to the city. The possibility of gaining wealth Increased quality of life because of more wealth. A re-emphasis on education Downsides of economic liberalization
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Massive pollution – it has relied heavily on coal for its energy needs. To revamp a factory to burn coal in a somewhat clean fashion is very expensive. The extent of pollution has had a negative effect on the quality of life for urban dwellwers Creates new social class inequalities- Mao attempted to eliminate social classes, Deng was much less concerned with social equality. Lack of democratic reform – Deng believed that you can increase economic wealth without real political reform. Increase in crime, corporate crime, extortion, bribery, corruption Prostitution The elimination for many Chinese of the iron rice bowl. (if you were guaranteed a job despite what happens in the economy, then you found yourself jobless. It would have a huge psychological impact of insecurity.) Private medicine has become the prerogative of the wealthy. – inequality that has immerged as liberalization. 1 Chil
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