Ing.tomáš Dudáš, PhD.
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Transcript of Ing.tomáš Dudáš, PhD.
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Ing.Tom Dud, PhD.
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Basic InformationArea approximately the size of USA
Population approximately 1,3 billion
President Hu Jintao
Prime minister Wen Jiabao
Mixed economy (market economy and socialist stylecommand economy)
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Historical background1949 Peoples Republic of China was
established
1949-1976 Stalinist style commandeconomy under the leadership of Mao Zedong
1958-1961 - Great Leap Forward
19661976 - Cultural Revolution
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Economic reform1978 bad economic conditions (dual society,where the urban population had 3x higher incomethan the rural population)1978 start of the reforms (Deng Xiaoping)Specific Chinese socialism or socialist market
economy4 modernizations (agriculture, industry, science
and technology and military)
First step introduction of market principles intothe agricultureWindows into the world (special economic zones)1989 - political and social problems2001 Entrance into the WTO
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Main economic data - 2008Unemployment in cities officially 4-5 %
(reality 10%)
Rural unemployment we can onlyapproximate (approx. 20 %)
Hourly wage - 1 USD/hour and less
Inflation 5,9 %
Currency juan/renminbi (fixed exchangerate)
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Main economic data - 2008Main business partners:
Export US 18.6%, Hong Kong 12.7%, Japan8.2%, South Korea 5.1%, Germany 4.2%(2008)
Import Japan 12.2%, South Korea 10%, US6.6%, Hong Kong 4.9%, Germany 4.5% (2008)
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Main economic problems of ChinaPopulation problems legacy of one child policy
Social problems the poor rural regions are loosingground economically (the hukou system
exacerbates the problems)Approx. 150 million commuters (high share of
illegal ones)
Rising social tensions (70 000 social unrests and
demonstrations)
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Main economic problems of ChinaHigh energy and resource intensity of the
economy China is the second largestconsumer of oil and energy
China is one of the largest polluters in theworld (Co2 emissions will grow fourfold in the
next century) China did not sign the Kyotoprotocol
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Main economic problems of ChinaHigh level of corruption from the communal
level up to the top level party and militaryleader
The foreign corporations adapted thepotential gains are huge
Problems with the protection of intellectualproperty rights
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Other social and economic
problemsThe mixture of two economic systems brought
out the worst problems of both systems
Problems in the area of human rightsProblem of Tibet
Problem of Taiwan
Control of mass media (internet control new
challenge)
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East Asia
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Chinas economic
cooperationChina-ASEAN FTA (in effect by 2010 for 6 ASEAN
members and 2015 for the remaining 4)
China-Singapore FTA
China-Philippines investment acts
Various acts with Mekong Delta countries
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Difficulties in EU-China tradeProtection of Intellectual property rights
Counterfeiting and product piracy
Product safety concernsBallooning bilateral trade deficit
Chinas undervalued currency
Chinas delay in enforcing WTO rules
Unfair subsidies to favored national industries
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