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Reform And Opening Up
Reform and opening-up ( zh, s=改革开放, p=Gǎigé kāifàng), also known as the Chinese economic reform or Chinese economic miracle, refers to a variety of economic reforms termed socialism with Chinese characteristics and socialist market economy in the People's Republic of China (PRC) that began in the late 20th century, after Mao Zedong's death in 1976. Guided by Deng Xiaoping, who is often credited as the "General Architect", the reforms were launched by reformists within the ruling Chinese Communist Party (CCP) on December 18, 1978, during the '' Boluan Fanzheng'' period. A parallel set of political reforms were launched by Deng and his allies in the 1980s, but eventually ended in 1989 due to the crackdown on the Tiananmen Square protests, halting further political liberalization. The economic reforms were revived after Deng Xiaoping's southern tour in 1992. The reforms led to significant economic growth for China within the successive decades; this phenomenon has si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomic Reform
Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing distortions in individual sectors of the economy or by reforming economy-wide policies such as tax policy and competition policy with an emphasis on economic efficiency, rather than other goals such as equity or employment growth. "Economic reform" usually refers to deregulation, or at times to reduction in the size of government, to remove distortions caused by regulations or the presence of government, rather than new or increased regulations or government programs to reduce distortions caused by market failure. As such, these reform policies are in the tradition of laissez faire, emphasizing the distortions caused by government, rather than in ordoliberalism, which emphasizes the need for state regulation to maximize efficiency. Microeconomic reform in Australia Microeconomic reform dominated Australian econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South China Morning Post
The ''South China Morning Post'' (''SCMP''), with its Sunday edition, the ''Sunday Morning Post'', is a Hong Kong-based English-language newspaper owned by Alibaba Group. Founded in 1903 by Tse Tsan-tai and Alfred Cunningham, it has remained Hong Kong's newspaper of record since British colonial rule. Editor-in-chief Tammy Tam succeeded Wang Xiangwei in 2016. The ''SCMP'' prints paper editions in Hong Kong and operates an online news website that is blocked in mainland China. The newspaper's circulation has been relatively stable for years—the average daily circulation stood at 100,000 in 2016. In a 2019 survey by the Chinese University of Hong Kong, the ''SCMP'' was regarded relatively as the most credible paid newspaper in Hong Kong. The ''SCMP'' was owned by Rupert Murdoch's News Corporation from 1986 until it was acquired by Malaysian real estate tycoon Robert Kuok in 1993. On 5 April 2016, Alibaba Group acquired the media properties of the SCMP Group, including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commanding Heights Of The Economy
In Marxian economics, the commanding heights of the economy are certain strategically important economic sectors. Some examples of industries considered to be part of the commanding heights include public utilities, natural resources, and sectors relating to both foreign trade and domestic trade. History This phrase emerged from a branch of modern political philosophy concerned with organising society. According to Yevgeni Preobrazhensky, a Bolshevik economist, control over the commanding heights of the economy would ensure primitive socialist accumulation. The phrase can be traced back to Vladimir Lenin's defense of the New Economic Policy (NEP), which saw market-oriented reforms while the state retained control of the commanding heights. Lenin used the military metaphor to justify NEP, proposing that free markets could be permitted so as long as the government retained control of certain commanding heights like heavy industry and transport. Specific national contex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Monopolies
In economics, a government monopoly or public monopoly is a form of coercive monopoly in which a government agency or government corporation is the sole provider of a particular good or service and competition is prohibited by law. It is a monopoly created, owned, and operated by the government. It is usually distinguished from a government-granted monopoly, where the government grants a monopoly to a private individual or company. A government monopoly may be run by any level of government—national, regional, local; for levels below the national, it is a local monopoly. The term state monopoly usually means a government monopoly run by the national government. Characteristics of state monopolies A state monopoly can be characterized by its commercial behavior not being effectively limited by the competitive pressures of private organisations. This occurs when its business activities exert an extensive influence within the market, can act autonomously of any competitors, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protectionism
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors and raise government revenue. Opponents argue that protectionist policies reduce trade, and adversely affect consumers in general (by raising the cost of imported goods) as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries against which the protections are implemented. Protectionism has been advocated mainly by parties that hold economic nationalist positions, while economically liberal political parties generally support free trade. There is a consensus among economists that protectionism has a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Controls
Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or alternatively to ensure a minimum income for providers of certain goods or to try to achieve a living wage. There are two primary forms of price control: a price ceiling, the maximum price that can be charged; and a price floor, the minimum price that can be charged. A well-known example of a price ceiling is Rent regulation, rent control, which limits the increases that a landlord is permitted by government to charge for rent. A widely used price floor is minimum wage (wages are the price of labor). Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements. Although price controls are routin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chengbao System
In the People's Republic of China, the Chengbao system () refers to the private or individual contracted operation of public assets such as bus lines, hospitals, and schools. These operators pay a fee as well as a percentage of profit generated to the state. It is regarded as a form of intrapreneurship. History The Chengbao system was first introduced during the land reform in China. In order to get around Maoist-era laws prohibiting land ownership, land was "chéng bāo" or contracted to the public, such as to individual peasants by the state. The system was quickly expanded to include many other assets. Today in China, many public assets and public service companies such as hospitals, schools and even auto companies are contracted out to private operators who operate it with a profit motive in mind but return operating expenses and profit to the government. This has the advantage of creating extra value to the contractor, generates funding for the state and public, and improves s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privatization
Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out-sourcing"); in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, water supply, and prison management. Another definition is that privatization is the sale of a state-owned enterprise or municipally owned corporation to private investors; in this case shares may be traded in the public market for the first time, or for the first time since an enterprise's previous natio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Direct Investment
A foreign direct investment (FDI) is an ownership stake in a company, made by a foreign investor, company, or government from another country. More specifically, it describes a controlling ownership an asset in one country by an entity based in another country. The magnitude and extent of control, therefore, distinguishes it from a foreign portfolio investment or foreign indirect investment. Foreign direct investment includes expanding operations or purchasing a company in the target country. Definitions Broadly, foreign direct investment includes mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans. In a narrow sense, foreign direct investment refers just to building new facility, and a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. FDI is the sum of equity capital, long-term capital, and short-term capital as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collective Farming
Collective farming and communal farming are various types of "agricultural production in which multiple farmers run their holdings as a joint enterprise". There are two broad types of communal farms: agricultural cooperatives, in which member-owners jointly engage in farming activities as a collective; and state farms, which are owned and directly run by a centralized government. The process by which farmland is aggregated is called collectivization. In some countries (including the Soviet Union, the Eastern Bloc countries, China and Vietnam), there have been both state-run and cooperative-run variants. For example, the Soviet Union had both kolkhozy (cooperative-run farms) and sovkhozy (state-run farms). Pre-20th century history Case studies Mexico Under the Aztec Empire, central Mexico was divided into small territories called ''calpulli'', which were units of local administration concerned with farming as well as education and religion. A calpulli consisted of a numbe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GDP (PPP)
GDP (PPP) means gross domestic product based on purchasing power parity. This article includes a list of countries by their forecast estimated GDP (PPP). Countries are sorted by GDP (PPP) forecast estimates from financial and statistical institutions that calculate using market or government official exchange rates. The data given on this page are based on the international dollar, a standardized unit used by economists. Certain regions that are not widely considered countries such as Hong Kong also show up in the list if they are distinct jurisdiction areas or economic entities. GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita income. It is however limited when measuring financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
