The Economies of your Countries
How would you describe the economy of your country?
Consider the questions below. If you don't know the answers to the questions, conduct online research to find information.
Respond to each question below in the "Enter a Comment" area. Please respond to the questions by Wednesday, April 4th at 11:59 pm. Please read other people's comments and respond to at least TWO other people's comments by Thursday, April 5th at 11:59 pm.
1. Is there a large disparity between rich and poor in your country?
2. Do you think the disparity between rich and poor countries can be controlled? Should it be controlled?
3. What are some of the biggest charities in your country? Do they have much influence over your government and businesses?
4. What are the most important product and services for your country's Gross Domestic Product (GDP)?
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ReplyDelete1.Speaking of the gap between rich and poor, especially compared with America, China’ s wealth inequality has been growing over years. Foreign Policy News points out that, 1.5 million millionaires lived in China. In 2013 the number increased further to 2.4 million. Eventually, the number of millionaires is projected to double again until 2015. However, over 82 million Chinese still live on less than about $1,25 per day.
ReplyDelete2. As far as I am concerned that it can be and should be controlled properly. Reasons:
1) Trigger social discontent;
2)Reduce possibility to boost domestic demand and consumption;
3) City country margin becomes an outstanding problem.
3. Some of the biggest charities in China are Red Cross Society of China; UNICEF((United Nations International Children's Emergency Fund); SOS Children Village and so on. I do believe they have much influence over our government and business. For these charities, they are credited with making a positive impact on society and community. Besides, these charities also make a connection band between people and government.
4. I suppose processing enterprise, agricultural products and tourism can be regarded as the most important product and services for China's GDP.
Excellent, you really tell me something that I don't know. Do you think the root cause the large gap between rich and poor is popularity?
DeleteBesides I think tourism isn't imprortant product in China, we focus on the secondary industry now.
I agree that Chinese rich people have more and more money while poor people are poorer and poorer. What amazing statistics that you gave! I hope I can make so much in the future.
DeleteUsing statistic to prove the phenomenon is a persuasive way.
DeleteJudy, I can't agree more about "China's wealth inequality has been growing over years". In addition, the specific figure you listed is very convincing.
DeleteThanks for all of your comments and you are more professional than me. For Chenchen's comments, I do think population can be one of reasons to explain why the gap between rich and poor is growing but population is not the only one to cause the wealth inequality. We still need to consider other factors, like regional development, governmental policies and so on. Additionally, I appreciate your different opinions, and one thing I need to point out is that, tourism is not the most important product but it still stimulates the economy and plays a significant part in Tertiary Industries. (PS: I do love travelling.)
DeleteThank you for letting me know the gap between the rich and the poor in China.
DeleteAlso learned about the importance of these industries in China.
Your information is very interesting. Having statistics gives greater validity to your opinion. I hope that the gap between the poor and the rich will not continue to rise.
Delete1. The gap between the rich and the poor has continued to worsen in the past 30 years. So the top 10% rich people accounted for 44% of wealth (nearly half).
ReplyDelete2. In fact it is difficult to control. After all, rich people can use extra money to create more money. I think it should be controlled, otherwise the poor will not be able to live, even affect the development of the entire country.
3. The largest charity in Taiwan should be the Buddhist Compassion Relief Tzu Chi Foundation. They have no positive effect on the government or business. What they are paying is some social responsibility to help some people who have difficulties in living.
4. The most important products in Taiwan are the export of industrial products and the OEM. Of course, the government also hopes to promote sightseeing.
What is Buddhist Compassion Relief Tzu Chi Foundation? I never heard about that....I totally agree that the gap between rich and poor is difficult to control. Thank you tell me something about Taiwan, it helps a lot.
DeleteI still appreciate that you just share so vital information to me. I've never heard about the Buddhist Compassion Relief yet. Additionally, I have no idea about what OEM represents until I google it. An Original Equipment Manufacturer, commonly abbreviated OEM, is a company that produces parts and equipment that may be marked by another manufacturer. Anyways, many thanks to you and good connections.
DeleteI very much agree with your views on rich countries and poor countries. In my opinion, the geographical location and natural resource advantages of a nation have already determined your developmental saturation. This is currently an irreparable gap. We can only narrow this gap through the goal of peaceful development in the world, but it cannot be eliminated.
DeleteI know that Taiwan has a lot of high technology. For example, the semiconductor industry is an integral part of promoting Taiwan’s economy.
Very good, simply and completely and comprehensive answers!
DeleteI was going to ask what is the OEM but Lingfan Li has responded that on the comments. It is really interesting that the government hopes to promote the tourism so I am curious, the tourism in Taiwan is low or is high but they are trying to put it higher?
Delete1. Is there a large disparity between rich and poor in your country?
ReplyDeleteThe disparity in China is large between rich and poor. Overall, people from eastern China tend to be richer than people from the rest parts of China.
2. Do you think the disparity between rich and poor countries can be controlled? Should it be controlled?
From my perspective, it's hard to control. As the condition in every country is different and complex. The disparity between rich and poor countries should be controlled with an eye to the world peace and world development. But it may take decades of effort.
3. What are some of the biggest charities in your country? Do they have much influence over your government and businesses?
The China Charity Federation and China Youth Development Foundation are some of the biggest charities in China. I believe they are influential in the society and business.
4. What are the most important product and services for your country's Gross Domestic Product (GDP)?
The most important product and services for China's Gross Domestic Product (GDP) are mechanical electronic and manufacturing.
I admire your answer to the first question. Because I do think people from eastern China are richer than people from other parts of China, especially people from western China.
DeleteThis is an inevitable situation. From the development of various countries, coastal cities must be the country’s first development goal for three reasons. First, the transportation is convenient. Since ancient times, water transportation is an essential economic transmission link. We can better exchange resources with other countries. At the same time, China’s vast railway network also allows inland areas to connect through these cities. Second, government support. The prosperous eastern region benefits from Deng Xiaoping's pointed out the policy of the new China’s foreign development policy, which has made the Chinese economy overgrow in 30 years. Third, geographical advantage. The flat terrain of eastern cities is suitable for the construction of large-scale industrial layouts.
DeleteAgree with your second opinion, the gap between rich and poor is really hard to control.
DeleteAnd also made me know these two charities.
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ReplyDelete1. Yes, there is. Most rich people can live in a big house, have medical care and everything they want. While poor people live in villages in mountains don't. There are issues about education, medicare, and transportation. Those who from eastern China are richer than western China.
ReplyDelete2. I don't think so, because it's hard to control the whole country. What we can do is just keep the situation from being worse. I do think it should be controlled because those poor people should live in a better life.
3. The China Charity Federation and China Youth Development Foundation maybe have influence over government and business, but I think it might not be strong enough.
4. I suppose industries and manufacturing.
1. Yes I think so. Especially between city and countryside. Besides, there is also a big gap between Southeast China and Northwest China.
ReplyDelete2. Actually there are some ways to control, however, it is too diffcult. It is nessessary to control the disparity between rich and poor, or this problem will incerase the rate of crime. Government can introduce policies which can benefit poor.
3. I am not sure, may be is Red Cross. I don't know if it have much influence over government and buninesses.
4. The most important products are evetything about the secondary industry.
Very good, simply and completely and comprehensive answers!
DeleteIt is really interesting to read different information and points of view about China. I would like to know more about how is the gap represented between Southeast China and Northwest China.
Delete1. Is there a large disparity between rich and poor in your country?
ReplyDeleteThere is a large disparity between rich and poor in China. A report by the Chinese Academy of Social Sciences said, "the earnings of urban residents were now more than three times those of residents of rural areas."
2. Do you think the disparity between rich and poor countries can be controlled? Should it be controlled?
Personally speaking, it can be hard to control. Take China for instance, the government already covered educational, health and social security costs in the countryside to narrow the gap,but the gap between China's rich and poor is still growing.
On the other hand, it should be controlled because of the overall development of the whole country.
3. What are some of the biggest charities in your country? Do they have much influence over your government and businesses?
According to China Daily, the top three spaces of Chinese charities were:
1)"the Shanghai-based foundation Cherished Dream (which builds computer rooms for children in the countryside);
2)the Beijing-based YouChange China Social Entrepreneur Foundation (which gives grants to existing projects);
3)the Chinese Red Cross Foundation (which is a different legal entity than the Red Cross Society of China)".
They do have a positive effect on our people and government.
4. What are the most important product and services for your country's Gross Domestic Product (GDP)?
China is considered as the world's most important manufacturer and industrial producer, and those two sectors alone account for almost half of China's gross domestic product.
Nice reference from Chinese Academy of Social Sciences and China Daily!
DeleteI agree with you that the disparity of rich and poor in China can be difficult to control however, we have to do it.
You know what, Melody! I also saw some others' saying that Chinese rich and poor disparity were narrowing. I am so confused.
DeleteI admire the resources you used in your answers. They made your answers persuasive!
DeleteI agree your opinion of question 2. It will be very difficult to control the big gap between the rich and the poor in China, even in all over the world, I think.
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ReplyDelete1. In recent years, the gap between rich and poor increases continuously. The top 1 percent of the richest they do not worry about anything in their life and use the money to invest in getting more money. But for poor people they do not have more money can waste.
ReplyDelete2. As a matter of fact, it is almost hardly control. Because most of wealth will be controlled by rich people. It should be controlled. if no one control, it will lead criminal rate to increase.
3. I think is Buddhist Compassion Relief Tzu Chi Foundation because anytime when some places or countries happen disaster, they will donate or relieve disaster at the first time.
4. It seems to me that the most important product in Taiwan is ODM.
I looked ODM up in the dictionary and it means Ministry of Overseas Development. I heard about it before.
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Delete1. With regarding gap of wealth, it is big. The eastern coastal cities developed better than the west because they can take advantage of seawater resources and develop maritime trades.
ReplyDelete2. I think it can be controlled and it should be controlled. The governors in China enact policies to narrow the gaps between rich and poor. From my point of view, narrowing the gaps between rich and poor is necessary because it can increase the Gross Domestic Product.
3. China Charity Federation is the biggest charities in China. It has much influence and people with different occupations donate money through this charity.
4. I think Artificial Intelligence, overseas trade, manufacture industry are important product and services for my country's Gross Domestic Product.
Firstly, I agree with you that coastal east has develops much better than other areas of China, no matter economic situation or urban construction, etc. The income disparity among different regions is really large. In a free market, I conceive that the well-developed areas will develop better while the less-developed areas will become worse, therefore, the gap between costal east and inland area will be wider.
DeleteSecondly, I think narrowing the gap between rich and poor also can promote social stability and progress.
Thirdly, to be honest, I may heard of that charity, but I think the number of donaters to that charity is very limited. Most of Chinese don’t have strong counciousness of philanthropy.
Fourthly, though China’s government does focus more on high-technology industry, artificial intelligence hasn’t been the pillar industry of the national economy.
Very good answers, but for No. 4 question, are you sure that A.I., overseas trade and manufacture industry are important products for Chinese GDP, not include a lot of agricultural products or others?
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ReplyDeleteThe Economy of China
ReplyDelete1. Is there a large disparity between rich and poor in China? Yes and the disparity is becoming larger in China. This trend is not going to change anytime soon. According the data from Peking University’s Institute of Social Science, top 1 percent in China control one third of China’s wealth. One of the important reasons can be 70 percent of China’s wealth is concentrated in Real State. It is important to note that the income inequality between the rural and the urban is extremely large. However, China’s government has already taken some poverty alleviation measures and China has greatly reduced poverty while maintaining rapid economic growth. From a positive perspective, we can consider the disparity as a sign of the economic tradition China is going through. (Source: https://qz.com/204180/china-is-hiding-how-bad-income-inequality-is-in-the-country/)
2. Do you think the disparity between rich and poor can be controlled? Should it be controlled? In my opinion, I think the disparity between rich and poor can be controlled, however, it can never be dispelled. Some of the reasons include: Firstly, over decades China has put great effort in poverty alleviation and fortunately in return China has cut the number of poor by more than 700 million. Moreover, comparing with the 60% of the poor in rural areas in 1990, the figure was further lowered to 4.2% in 2014. Secondly, rapid economic growth over decades can be the foundation of increasing incomes and consumption. Thirdly, China is a communism country and common prosperity are the essential characteristics of socialism and the fundamental principle. (Though I think China is not truly communist.) Fourthly, there are some practical poverty alleviation measures remain to be adopted. For example, to alleviate the poverty in rural areas, we can strive to develop the agricultural sector which is considered more effective in reducing poverty than secondary and tertiary industries. Also, measures like guaranteed minimum income and new-type rural cooperative medical care system can ensure the basic living of the poor.
3. What are some of the biggest charities in your country? Do they have much influence over your government and businesses? As the increasing negative news report about China’s charities, I have no comment to these charities in China. I think Chinese are not so dedicate to philanthropy as westerners. However, according to the Hurun Report, Jack Ma, the founder of Alibaba and the top 1 richest entrepreneur of China, is also China’s biggest philanthropist. Over the past year, he donated to his charitable trust amounted to $2.4 billion.
4. What are the most important product and services for China’s GDP? The tertiary industry now makes up the majority of China’s GDP. Financial services account for more than 80% of economic profit. (Source: https://www.weforum.org/agenda/2016/06/8-facts-about-chinas-economy/ ）The real estate industry is vitally important to China’s economy which generated investment worth 7.9 percent of additional annual GDP in 2016.(source:https://thediplomat.com/2017/06/tough-times-for-chinas-real-estate-developers/ )
Mindy, I have to say you are very knowledgeable and professional, especially in economic field. Awesome! I push myself to analyze this data that you offer but still hard for me. Anyways, thanks for your sharing. I am still learning but I've learned a lot from your research.
Delete1. I think China has a gap between the rich and the poor. At present, there are still 70.17 million poor people in rural China, accounting for about 7.2% of rural residents. We should not use a person with hundreds of millions of assets to compare a person who can only eat meat once a year. This is a wrong way of comparison.
ReplyDeleteChina has a gap between the rich and the poor, but it is continuously shrinking.
2. The gap between rich and poor countries is controllable but very difficult.
First, the relationship between countries belongs to the Resource exchange relationship. If you do not have good technology or natural resources, it is difficult for you to control the gap.
Second, the size of the country determines your resource space. The resource space leads to whether your economy needs external support. This is a bit difficult to maintain.
3. Give three examples of China Charity Federation, China Youth Development Foundation and China Foundation for Poverty Alleviation. These three charities are China's larger and trusted charities.
In China, charitable organizations are divided into three sectors: government organizations are the first sector, corporate organizations are the second sector, and nonprofit organizations are the third sector. The three departments have their social functions and establish a social, organizational structure. The relationship between them is an equal partnership. They usually help people who need help.
4. I have reviewed China's 2013 GDP. I find that the most critical product in China is the industrial product that belongs to the secondary industry. It is almost equal to half of the GDP.
In China's most important service industry, I think it must be simultaneous interpretation. This is a significant career that plays a key role in the financial exchanges between countries and the hosting of events.
Hi Zixiong, for the first question, I wonder why we can't compare the richest and the poorest? I think that's where the disparity comes from. Could you explain more of it?
DeleteZixiong, your post is very informative!
DeleteFirstly, I am so surprised that in our country, there are still 70 million people in poverty since we cut the number of poor by 700 million in the past 30 years. However, I doubt it if the gap between rich and poor will be shrink or widen but I do have positive attitude toward poverty reduction in China.
Secondly, I can’t agree with you more that the gap can be controlled but as hard as achieving the socialism in China. China should try to keep the gap between poor and rich within a reasonable range. Just as what we were taught at politic class in China, we should allow some people and some region get rich at first, and then rich people help the others, at last common prosperity of the entire nation will be gradually achieved. (Though it seems like cold comfort to those who are suffering from poverty)
Thirdly, national interest forms the basis of diplomatic negotiations and activities of a country.
Fourthly, I reviewed the data of China’s 2017 GDP. The percentage of the secondary industry had reduced to 34.27%.
@Xiandi Weng Very willing to answer your questions. First of all, we must clarify the definition of “the gap between the rich and the poor” and have two kinds of understanding of the “gap between the rich and the poor.” I learned from an article that there are two kinds of understanding. ( http://www.sohu.com/a/214916312_99904052 )
DeleteThe first kind of personal real economic disparity, a rich person has hundreds of millions of assets. An ordinary person has 300,000 assets. This is an absolute difference.
The second difference in the actual consumption of individuals is that a rich person consumes 300,000 people a year and a poor person spends 50,000 a year. This is also a gap.
I prefer the second one. A wealthy man creates countless wealth in his life. Unless you can spend it all, your wealth will not belong to you. For example, Nobel, he has countless wealth, but he spends money that he can't use for his life. He chose to create a Nobel scholarship to serve the public. My point is that wealth will eventually return to society rather than individuals. Another example. In a family of wealthy people in Shanghai 30 years ago, his children wore expensive leather shoes. But in the village of Chongqing, a family can only play barefoot. Thirty years later, the Shanghai rich family still wears expensive leather shoes. But in Chongqing's Shancun children can wear ordinary cloth shoes. I think the gap between rich and poor has narrowed. Comparing the gap between rich and poor cannot be proved with extreme data. You need to see most of the situation, and it seems to me that sitting on a lot of wealth is also part of your strength.
I can't agree with you more. You're absolutely right. The rich people can’t compare with poor people. Because they have extreme disparity between the poor and the rich.
Delete1. Is there a large disparity between rich and poor in your country?
ReplyDeleteThere is a large disparity between rich and poor in China. People live in big cities are richer than people live in the countryside. The richest part of Chinese people are 10.9 times richer than the poorest part of Chinese people in 2017. ( http://www.gov.cn/xinwen/2018-02/28/content_5269506.htm)
2. Do you think the disparity between rich and poor countries can be controlled? Should it be controlled?
I don't think the disparity between countries can be controlled unless the world is full of love and peace. Rich country will make more profits and get richer while people in poor country struggling to survive. Though it should be controlled because a large disparity can lead to wars.
3. What are some of the biggest charities in your country? Do they have much influence over your government and businesses?
There are charities like China Charity Federation, China Disabled Persons Federation, Red Cross Society of China and so on.
I don't know if they have much influence. However, they do influence the government and businesses. The government make laws to implement charity. Many companies and entrepreneurs donate a lot of money to society.
4. What are the most important product and services for your country's Gross Domestic Product (GDP)?
According to National Bureau of Statistics of China, the most important in 2016 is Industry.
-Cindy
Your answer to the second question is so interesting. However, you were stating the truth that the disparity between countries is hard to control in the present situation.
DeleteGood job and I like your answer of second question. It's true!
DeleteYour answer sounds like constructive, but I have a little confuse you mean that the world is full of love and peace.
Delete1. There is a large disparity between rich and poor in Puerto Rico. One study in 2013 by José Reyes Rivera, director of the Graduate School of Social Work of the Catholic University and the doctor Hilda Burgos Ocasio, report that 20% of the richest population holds 60% of the income, while the poorest 20% only receives 1.7%. These two data place us as the most economically unequal territory in the United States. But now, after the hurricane and others politics events, the disparity has increased a lot. Because of the economic crisis of Puerto Rico, through the federal law “PROMESA” (Puerto Rico Oversight, Management, and Economic Stability Act) the US Congress established an unelected Fiscal Control Board (FCB) to oversee the debt restructuring. But what is happening know is that the FCB are increasing their incomes and decreasing the incomes of the country. For example, the heads of agency are winning between all approximately 77 million among only 7 people, while they want to lower salaries, suspend public employees and close or reduce funds for schools and universities.
ReplyDelete2. I think that the disparity between rich and poor countries can be and should be controlled. One option can be through a system that contemplates the type of work and the preparation you have for it. There must be a minimum and maximum range, including the government.
3. Some of the biggest charities in my country are “SER de Puerto Rico” and the American Red Cross, chapter of Puerto Rico. Curiously, the little charities have more influence in the government than the bigger ones because they have people who are engaged in lobbying. In general there is not really influences over the businesses but it depends on the intention of the charity.
4. The leading industries in Puerto Rico include: pharmaceuticals, electronics, textiles, petrochemicals, processed foods, clothing and textiles. Followed by the service industry: finance, insurance, real estate, and tourism. After the hurricane Maria in September 21, these industries and services have been affected, especially the tourism.
Mei Lai
ReplyDeleteCurrently, the second most millionaires on the planet live in China. A number only topped by millionaires living in the US. The rich and the poor in the meantime are the extreme differences in wealth and incomes. Poverty is still pressing issue in some small and far countryside in China. These are the major concerns of the Chinese government.
In my opinion, the big gap between the rich and the poor in China can be controlled by the Chinese government and the public. They need to make more better policies and laws to decide the incomes, the taxes, etc to control this difference.
Usually there are some main charities in China. For example, Chinese Red Cross Society, Chinese Disabled Persons Federation, China Charity Federation, China Charity Federation, China Youth Development Foundation and China Foundation for Poverty Alleviation, etc....
Generally, China’s GDP is broadly contributed by three broader sectors or industries – primary industry (agriculture), secondary industry (construction and manufacturing) and tertiary industry (the service sector).