European Cooperation (Feb 2016)
CHINA FOR THE NORMALIZATION
Abstract
The article analyses the reasons behind the wide spread paradigm that China has reached the end of its rapid development and is about to face the problems common to other industrially developed nations. The factors which influence Chinese economy are analysed: political, economic and social. It proves that that economic growth of China continues because of the following factors: sector of the economy that focuses on the creation and development of high-tech industry as well as continues urbanisation of society. This allows for constant growth of the state’s economy and improvements in the standards of living. However, there are a number of factors which hold back economic growth: low education level of the workforce in the rural regions that drag behind in their overall development; existing political institutions which holds back social development; low level of financial education and the economic management culture.
