Hart

Since the late 1970s, China has been experiencing a tremendous growth in its economy. In 1978, the Communist Party of China commenced an economic reformation program that aimed at enhancing the economic growth and performance of China (Hudis 112).Advertising We will write a custom essay sample on Hart-Landsburg and Burkett Argument specifically for you for only $16.05 $11/page Learn More This program aimed at enhancing the management of state owned enterprises (SOEs) as well as encouraging the development of privately owned enterprises. Thus, in addition to attaining high rates of economic growth and attracting foreign direct investments, the main aim of this economic reform was to transform the Chinese economy to a socialist market economy (Kraus 361). The aim of this ideology was to ensure that this economy is primarily controlled by state owned corporations. With this strategy in place, it was believed that every individual in China would benefit from the results of economic development as the profits earned by SOEs would be evenly distributed within the population. At the present moment, China is one of the nations that exhibit high economic growth rates in terms of GDP. However, from a critical angle, it is evident that the Chinese market is based on the capitalist system. It is due to this fact that Hart-Landsburg and Burkett argue that perhaps China has failed to achieve its economic reform goals that were set over four decades ago. Thus, the measures that were put in place after the implementation of the market reforms only led to the growth of capitalism. Despite the fact that SOEs were dominant during the 1970s and the 1980s, the growth of private entrepreneurship started to flourish during the late 1980s and in the 1990s. Consequently, the Chinese government passed several legislations that not only encouraged the privatization of SOEs, but also played a significant role in attracting foreign direct investments which led to the growth of the private sector. In 1993 for instance, the labor law was passed in China. This law eliminated the control that the government had in the selection and recruitment processes and paved way for the free labor market. This new concept used the demand and supply mechanism to determine the availability of jobs and the remuneration of employees. As a result, China has now been regarded as one of the main sources of cheap labor. Thus, many firms have moved their operations in this nation to enjoy the low costs of production.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More From this analysis, it is clear that the reformation program that was initiated by the Chinese government to rejuvenate socialism within China has failed. The results of this program have led the Chinese economy into a totally different path. The Chinese market is now based on capitalism. Consequently, most of the market industries and segments are dominated by foreign owned companies (Hart-Landsberg Paul 13). Furthermore, Hart-Landsburg and Burkett argued that the results of this economic reformation process were not abrupt but came about in stages. However, the measures that were put to overcome the upcoming challenges did not achieve the desired results since they led the economy further down the capitalist lane. As a result, the contemporary Chinese market is characterized by income polarization, high levels of poverty, and increased research and explorations. Hart-Landsburg and Burkett categorise these characteristic as the indicators of a capitalism market. Four Major Imbalances in the Chinese Economy The financial crisis of 2007/2008 was one of the most severe economic downfalls that the world has ever experienced since the great depression of the 1930s that almost crumbled the US economy (Feurberg 2). However, during the global financial crisis of 2007/2008, the Chinese economy was experiencing a positive growth. During the 2008/2009 financial year, China had a GDP of 9.2% (Lardy 3). Nicholas Lardy, a financial analyst stated that China managed to overcome the financial crisis due to the fiscal monetary stimulus plan that it had put in place. However, Lardy further states that this economic stimulus plan will only be effective in the short run since it does not put into consideration the structural problems and imbalances that are currently present in the Chinese economy. Over the last eight years, the Chinese economy has been operating on a pressed financial system. Prior to 2003, the interest rate on returns in China averaged 3% (Lardy 4). However, since 2004, this rate has greatly decreased hence forcing more households to save a higher proportion of their disposable income. To support his argument, Lardy presented a chart that showed the household savings in China between 1998 and 2008. In this chart, it is evident that the rate of saving has increased from 29% to 36%. To explain why the Chinese people tend to save when the interest rates are low, Lardy came up with a hypothesis that described the Chinese population as precautionary savers who want to attain a specific target of financial assets (Lardy 5).Advertising We will write a custom essay sample on Hart-Landsburg and Burkett Argument specifically for you for only $16.05 $11/page Learn More To support his argument, Lardy commented on the costly healthcare system in China that required upfront payments prior to offering services to its clients. To averse this problem, Lardy recommended that the Chinese government should develop effective social safety services that would reduce the level of household savings and encourage expenditure. Another imbalance that Lardy identified is the outsized real estate investment that is present in China. Since the beginning of the 21st century, the rise in real estate investment and the sale of residential prope rties have been one of the leading drivers that have led to the high rate of economic growth that is being experienced in China. Between the year 2004 and 2010, the rate of residential properties in China has been growing at an average rate of 4.6%. This rate is higher than the bank deposit rate that has been averaging at the rate of 0.7% during the same period (Lardy 6). Consequently, the residential property investments in China comprised of 9.1% of China’s GDP during the 2008/2009 financial year. This is higher than many nations in the world whose rate is below 5.2%. In an event of a bubble, Lardy warns that the Chinese market might suffer severe consequences than the USA during the 2007/2008 financial crisis. The decline in interest rates charged on household savings and the consequent increase in savings by households has resulted in a repressive financial system in China (Feurberg 4). This is the third economic imbalance that Lardy identified. To a higher extent, the co mmercial bank reserve levels are low hence increasing their level of borrowing and the amount of money circulating within the economy. This has greatly reduced the value of the Chinese currency. For instance, the exchange rate between 1995 and 2002 averaged 4.4%. However, this rate has stood at 0.5% since 2003. Thus, China needs to come up with policies that increase the reserve levels of commercial banks as a measure of curbing inflation. The last imbalance that Lardy managed to identify is the subsidies that are present in the manufacturing sector, especially in the service industry. Given the repressive financial system that is present in China, households and commercial banks investors of the central bank. Thus, the government has access to low interest capital that it uses to fund state owned projects resulting in an imbalance in trade. Works Cited Feurberg, Garry 2012. Chinese Economic Growth Requires Restructuring Economy. Web.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Lardy, Nicholas 2012. Sustaining Economic Growth in China. Web. Hart-Landsberg, Martin and Paul Burkett. China and Socialism: Market Reforms and  Class Struggle. New York: Sage, 2005. Print. Hudis, Peter. The Rosa Luxemburg Reader. New York: Sage, 2004. Print. Kraus, Richard. Class Conflict in Chinese Socialism. New York: Columbia University Press, 2011. Print. This essay on Hart-Landsburg and Burkett Argument was written and submitted by user Brice Pittman to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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8 Great Essay Writing Tips for Students

8 Great Essay Writing Tips for Students 8 Great Essay Writing Tips for Students 8 Great Essay Writing Tips for Students By Ali Hale Whether you enjoy writing or not, there’s probably a fair amount of it that you have to do as a student. I don’t think essays are anyone’s favourite thing to write (and I say that as a former English Literature student!) but by honing your writing process, you can get them over and done with quickly and – hopefully – well. I was an undergraduate student in the back in 2003-06 and back then, the most sophisticated tool I had to help with my writing was Microsoft Word 2003’s spellchecker! Today, there are loads of useful tools you can use – and I covered some of those in my post 10 Online Tools to Help You Write the Perfect Essay. No tool can offer to write your essay for you, though (and if it does, I’d be very dubious about using it). So in this post, we’ll be looking at some key tips for getting your essays written as smoothly and painlessly as possible. Tip #1: Don’t Start Writing Without a Plan I know it can be tempting to just dive into an essay, especially if you’re short on time. With anything you write, though, you’ll find it much easier if you plan ahead – and I think this is especially true for essays, which generally need a strong structure that supports you in making a particular argument. Depending on the length of your essay and how much you like to plan ahead, your plan might be a short list of bullet points and some ideas about key sources to reference – or it might be a detailed paragraph by paragraph outline. But you should definitely have some sort of plan in mind, or you risk going off on a huge tangent that doesn’t really relate to your essay question. Tip #2: Don’t Leave Your Writing Until the Last Minute Okay, I know it’s sometimes unavoidable – but very few people do their best work while staying up all night frantically trying to finish an essay that’s due imminently (or worse, overdue). It’s much better for your writing – and your health – to work consistently on an essay well ahead of the deadline. One great way to do this is to break down your essay writing process into different stages (which will probably correspond to these stages of the writing process). For instance, if you have a short essay due Friday, you might come up with ideas and useful references for your essay question on a Monday, write a detailed plan on a Tuesday, and start drafting on a Wednesday instead of leaving everything to the end of the week. Tip #3: Know Your Best Time of Day to Write All of us have times of day when we find it easy to focus – and times when we really struggle. I’ve known since my schooldays that I’m a morning person: I’m at my best between about 7am and 12 noon, and my focus dips dramatically around 4pm. You might be totally different – perhaps you can concentrate really well between, say, 7pm and midnight – but what matters here is knowing yourself. Figure out your best hours for writing and try to use them where possible. Tip #4: Ask for Sample Essays or Projects to Look At Whatever you’re studying, if you have to produce essays or projects that are assessed, there will almost certainly be (a) a mark scheme and (b) examples of previous students’ work. Ask your professors about these. Take a really close look at past work, and at the mark it got: see if you can figure out why – and what you could do to improve your own work. If you’ve got connections to students who’ve taken your course in the past, you might also ask them if they’d be willing to share any of their old essays. (Be really careful here that you don’t end up accidentally using any of their ideas or phrasings as your own – that’s plagiarism and it’s a serious academic offence. So if you take notes based on their essays, label those very clearly so you don’t later think that they’re part of your own work.) Tip #5: Know How to Present Your Work Correctly The rules about formatting essays – particularly things like footnotes and bibliographies – can seem rather arcane and confusing. But it’s important to get these little details right. If you’re unsure, again, ask for examples or take a look at whatever style guide your university uses. One area where students sometimes struggle is in the presentation of quotes from sources. Depending on length, these can either be presented as â€Å"blockquotes† – in their own paragraph, indented from the main text – or as â€Å"inline† quotes that are incorporated into a paragraph. Again, ask for examples or consult the appropriate style guide for your institution. Tip #6: Look Up a List of Commonly Misused Words Some words are very easily confused with one another, or used incorrectly. It’s worth checking through the words and phrases that people commonly get wrong just to be sure you’re not making any mistakes. We have a category dedicated to such mistakes. Tip #7: Edit Your Essays On Paper Where Possible Hopefully, you’re already editing your essays before handing them in – if not, definitely make that into a habit. Don’t just look out for typos and spelling mistakes: think about areas where you haven’t made your thinking clear, or where you haven’t backed up a statement with a reference or fact. While there are lots of tools you can use to make editing on the screen easier, I don’t think anything can replace a careful read-through on paper – especially if you’re handing in something that’s going to make up a large part of your final mark. #8: Share Your Essay-in-Progress With Fellow Students Can you get together with one or two other people on your course and swap your draft essays? Often, someone else’s feedback can really help you to clarify your own thinking – and they may spot potential problems that you’d have missed, or areas where you could go further. Even if you don’t want to give one another substantial feedback, you could still swap essays for light editing / proofreading purposes: it’s surprising how someone else’s mistakes can leap out at you, whereas your own tend not to be obvious (because you know what you think you wrote) Whether writing’s something you enjoy, or a necessary evil, I hope these tips help you to write great essays without spending a huge amount of time on them. If you have an essay-writing tip of your own to share, feel free to leave it below in the comments. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Writing Basics category, check our popular posts, or choose a related post below:Yours faithfully or Yours sincerely?Running Amok or Running Amuck?Grammatical Case in English

Earth week Essay Example | Topics and Well Written Essays - 500 words

Earth week - Essay Example ay was a great success, it cemented minds of people concerning issues of environmental importance which further led to communal concern and political priority. Many governments on that note enacted laws which include protection of endangered species of animals and plants, maintenance of clean environment, safe drinking water among other much legislation. With time a great success was recorded on institutionalized land, air and water protection. Issues affecting local communities are given attention on the earth week and more so teachings conducted on field of natural calamities such as flooding and how best to deal with them. It also serves as an avenue where to express their growing consciousness of the environment. Events are organized in such a way to enable exhibition of displays that provides information on recycling or non-biodegradables. The internet has served as an important tool in the earth week since it enables reach billions of people in awareness creation. The internet helps in linking of activities around the world such as the pictures of the environmental scenes after the first world earth day and subsequent anniversaries. Effort is not only geared towards the earth week success in campuses and colleges only but even beyond. To ensure effective match of the objectives, it calls for corporate involvement. Wide range of activities is in that regard organized. Such activities involve campus, colleges and general environment general clean up, community service which is environmentally related, public speaking on the importance of environmental conservation coupled with efforts to put such into practice. To mark the peak of the Earth week celebrations Geographic photo editors always select most of the earth’s stunning pictures as seen from the space by NASA satellites which reveal the earth’s green nature. This besides helping in other activities and events are used by environmentalists and environment based organizations to improve the