copy China's economic policies?
By Cutie18f
@Cutie18f (9546)
Philippines
January 28, 2012 6:36pm CST
Why not? As we all know, China is growing economically huge these days while many countries are still struggling until now. Why? What are the Chinese doing that we can't do? I therefore propose that countries with struggling economies should try to copy or imitate China's present economic policies. Does that sound good to you? I strongly recommend it to my own country which, until now, has remained in poverty. Share your thoughts on this, please.
2 responses
@Mashnn (4501)
•
29 Jan 12
I think it could not be possible because their policy may not be favorable to some countries. For example, the minimum pay for their workers is very low compared to other countries. This makes the production cost and overall prices of goods that they produce to be cheaper. Other countries pay their workers much higher leading to high production cost and high prices.
@Cutie18f (9546)
• Philippines
29 Jan 12
They do not have minimum wage and they are able to make ends meet because there is power in number, more people can get hired. If one family has ten members, there is more income for the family. The middle class of China has dramatically grown into billions.
@beamer88 (4259)
• Philippines
29 Jan 12
Economic policies are not that simple to just imitate since there are other factors that need to be considered also. One such thing is the form of government. China is still a communist state. As such, they can easily dictate the wages of workers and control the prices of commodities unlike in democratic countries where these are not so simple to do.
1 person likes this
@Cutie18f (9546)
• Philippines
29 Jan 12
Curiously, according to a friend who just visited China, companies and industries can survive and hire as many workers because the government there does not impose minimum wage. They are free to give their workers any amount for salaries. So on the contrary if that is the case there is even more government control in our country than that part of the world.
@beamer88 (4259)
• Philippines
31 Jan 12
I didn't know that actually. But like I said, economic policies are a bit complicated, mix it up with political policies and it's mind-boggling :) But from what I know, a significant portion of a person's wages goes to the government. It's bigger than the taxes paid by people from democratic countries. So even if there's no minimum wage, your net income is still small.
