How has this Development Affected China Internally?
Despite the economic reforms, not everyone in China has benefited. Unemployment has surged, affecting nearly 100 million people. Women face poor employment conditions reminiscent of 18th and 19th century Europe.
There has been a notable increase in environmental degradation and corruption, exacerbating economic disparities between rural, urban, and inland provinces.
China has emerged as a significant regional and global economic powerhouse. Its economic integration and interdependencies have bestowed considerable influence over its trading partners.
Economic considerations have helped mitigate tensions with countries like Japan, the US, ASEAN, and Russia. Following the 1997 financial crisis, China’s support for ASEAN economies has alleviated concerns surrounding its rise.
China is increasingly recognized as a global player advocating for developing economies. Its outward-looking investment and aid policies in regions like Latin America and Africa further solidify its status.
The Rise of the Chinese Economy| Class 12 Political Science Notes
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