Mentor/s
Dr. Rober & Dr. Loris
Participation Type
Paper Talk
Abstract
“It does not matter whether the cat is black or white so long as it catches the mouse,” stated Deng Xiaoping, who served as the President of the People’s Republic of China (PRC) from 1978 to 1989. What Deng Xiaoping meant by this was that it did not matter what type of economic reform took place in China, so long as it yielded a more prosperous economy for the nation. Additionally, he realized that the communist regime in China would be threatened if there was no corrective action implemented to improve the living standards of Chinese citizens through economic reform. After Deng Xiaoping took control in 1978, China’s economy grew rapidly as its Gross Domestic Product (GDP) grew more than eighty times from 149.5 billion USD to 17.73 trillion USD in 2021. In this time period China has also developed into the world’s second largest economy in terms of GDP, behind the United States whose 2021 GDP was 23 trillion USD. In 2021, the Chinese Communist Party (CCP) celebrated its centenary and announced the achievement of reaching Xiaokang- a Confucian term used to describe an imperfect society where all citizens are sufficiently accounted for. Some economic scholars, such as M. Y. Zakharov, have stated that the CCP’s achievement of Xiaokang has progressed present and future development models portraying Chinese economic elitism and exclusivity (Zakharov, 2022). The economic reform seen within China has prompted individuals across the world to invest into the nation given its above average growth rates. However, recent data has indicated that investors are becoming less confident in the future growth of the nation given the implied risks. A particular risk that is heavily considered by investors is the theory that the authoritative government will pursue further communistic policies.
College and Major available
Finance BS
Location
Session 13: Digital Commons & Martire Room 310
Start Day/Time
4-27-2023 2:00 PM
End Day/Time
4-27-2023 3:15 PM
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 4.0 License.
Prize Categories
Best Multidisciplinary Research or Collaboration, Most Scholarly Impact or Potential, Best Writing
How the Communist Party of China Developed Sustainable Economic Growth
Session 13: Digital Commons & Martire Room 310
“It does not matter whether the cat is black or white so long as it catches the mouse,” stated Deng Xiaoping, who served as the President of the People’s Republic of China (PRC) from 1978 to 1989. What Deng Xiaoping meant by this was that it did not matter what type of economic reform took place in China, so long as it yielded a more prosperous economy for the nation. Additionally, he realized that the communist regime in China would be threatened if there was no corrective action implemented to improve the living standards of Chinese citizens through economic reform. After Deng Xiaoping took control in 1978, China’s economy grew rapidly as its Gross Domestic Product (GDP) grew more than eighty times from 149.5 billion USD to 17.73 trillion USD in 2021. In this time period China has also developed into the world’s second largest economy in terms of GDP, behind the United States whose 2021 GDP was 23 trillion USD. In 2021, the Chinese Communist Party (CCP) celebrated its centenary and announced the achievement of reaching Xiaokang- a Confucian term used to describe an imperfect society where all citizens are sufficiently accounted for. Some economic scholars, such as M. Y. Zakharov, have stated that the CCP’s achievement of Xiaokang has progressed present and future development models portraying Chinese economic elitism and exclusivity (Zakharov, 2022). The economic reform seen within China has prompted individuals across the world to invest into the nation given its above average growth rates. However, recent data has indicated that investors are becoming less confident in the future growth of the nation given the implied risks. A particular risk that is heavily considered by investors is the theory that the authoritative government will pursue further communistic policies.
Students' Information
Matthew Zawaski is a Finance student in the Honors Program who will be graduating on May 14, 2023.