This paper sets out to examine the impact of the fiscal contract system on economic growth in China's different provinces. Empirical testing is conducted using the error components model and pooled cross-section (provinces) and time-series data from 1989 to 1993. The empirical results for the whole sample show an inclination towards convergence of regional economic growth, with any increase in regional tax revenue hindering investment and employment due to excessive taxation, which is unfavorable to economic growth. The same finding applies to extra-budgetary revenue. Ranked by their overall strength, the provinces are divided into economically advanced and backward groups for empirical testing. Comparison of the empirical results using a sample of the top and bottom fifteen, in terms o...
This paper examines public budgeting in the first 30 years of China under central economic planning and one-party system. The research question is whether budgeting operates as it does under market economy in a democratic system. Analysis of historical documents finds that as a subordinate to central economic planning, budgeting was not able to play its functions. Though China was successful in employing all fiscal and monetary means to channel resources into targeted policy areas, budgeting was not effectively used as an administrative instrument. In the 30 years examined, the country seemed to be searching in vain for a workable budgeting system so as to avoid repeated financial frustrations.
The development of the electric power industry in China and of its regulatory milieu follows in many respects the pattern established in the United States and in most of the rest of the world. But while the emergence of competition in lieu of direct regulatory intervention is ideologically in harmony with capitalism in the United States, it may be less consistent with Chinese "market" socialism. In addition, environmental requirements in China to be effective must be merged to the degree possible with economic regulation. It may be easier to impose environmental requirements in a system featuring direct regulatory intervention than in one relying primarily on market competition. In related regulatory areas, there has been heavy emphasis on the need to make prices reflective of costs, bu...
By recognizing Ghana's accomplishments, our president will reinforce their ideals and avoid China to completely take over their economic system," said Tim Dixon, a professor of history and legal studies. "Obama's heritage can create an advantage over the Chinese if Obama is more multilateral and listen, not lecture. "People come to Africa and fail to understand local culture, and while they work with a foreign mentality, the messages will continue getting lost," she noted. "Obama's heritage will empower him to create a more authentic communication channel with our people." "We need proper training to do things better and develop better infrastructure" he said. "As a lost son and brother who's coming home, Obama can more legitimately stretch his arms to Africa and say that he can work ...
Some analysts of US-China policy opine that the US must adopt a containment policy towards China as the latter actively undertakes its economic development despite an outmoded political system. Others argue that the US should adopt a policy of engagement towards China as an emerging new superpower. However, foreign policy towards China should, as it does with any major power, include the inevitability of the participation of Japan, Russia, Korea, Vietnam, Indonesia and other states, and this is evaluated.
The article examines the role of the Parsis of India in the opium trade between China and India during the 18th and 19th centuries. It examines the significant role of a non-European group in the history of drugs. The Parsi involvement in the opium trade constituted an important component in the rise of Western capital in Asia, the development of the Indian and imperial economies, and the growth of Bombay and other colonial centers. Furthermore, the article examines the ability of drugs to serve the interests of non-Europeans under imperialism, as opium provided for the economic, social, and political development of the Parsi community. The article notes an episode in the history of both a community and a drug. The Parsis constitute one of the first and arguably most significant example...
... century saw the birth of the modern world system in which the economic, political and cultural domi...
A "helicopter parent" is a person who is so preoccupied with his child's success that she overly involves herself in or even blatantly interferes with college affairs of education and management as they relate to her child. In this article, the author describes the behaviors of helicopter parents and analyzes their origins. The article also describes people's attitudes toward "helicopter parents" as well as countermeasures adopted by colleges of China in responding to them.
... generations' lack of education and their economic inability to support their children's higher educa...Changes in China's economic system resulted in the adjustment of college and universi...
Introduction II. Development Of Chinese Law Up To The Cultural Revolution-A Decline Towards Zero A. The Starting Point-Traditional Chinese Law B. Reception of Foreign Law at the Beginning of the Twentieth Century C. Legal Developments During the Civil Wars D. Introduction of a Socialist Legal System E. The Cultural Revolution III. Development Of A New Legal System After The Cultural Revolution A. Political and Economic Bases for the New Development B. Thirty Years of Modern Chinese Legislation 1. First Steps Towards Legal Order 2. Modifying, Refining, and Accomplishing the System i. The Chinese Constitution ii. Criminal Law iii. Civil Law 3. Consolidation of the System 4. Accession to the World Trade Organization 5. Participation in International Law Making IV. Law Making In The Peop...
The U.S. and China have the world's two largest economies. While the U.S. has been a global economic titan for several decades, China's emergence as an economic powerhouse is a relatively recent phenomenon. China's economic success is particularly surprising considering its disastrous economic collapse from 1966 to 1976 (due to Chinese leader Mao Zedong's Cultural Revolution), huge population (more than four times the U.S. population) and speed of economic development. The Chinese economy has grown rapidly since the country started moving from a centrally planned system to a more open, market- oriented system in 1978. In 2010, the real GDP growth rates for China and the U.S. were 10.3 percent and 2.7 percent, respectively. According to the International Monetary Fund forecasts...
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