When Was Capitalism First Introduced to China? Stats on Labour Cost/Unit

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In summary, in the late 1970s, Deng introduced capitalism to communist China. For an economics essay on China's potential as a world economic superpower, the CIA World Factbook provides useful information about the country. However, finding statistics for cost/unit may be difficult to find on a national level for countries like the US, China, and Japan.
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student007
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When was capitalism first introduced to communist china? I know that this was done by Deng in the 1970s, but i don't know when.

Furthermore, can anyone find me a link that shows some type of statistic (preferably in chart or graph form) that displays China's low labour cost/unit relative to other countries such as the U.S and Japan? I've looked everywhere! This is for an economics essay I am writing regarding China's potential to become the world's economic superpower, and would just like some strong statistics to proev my point.

Thanx
 
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  • #2
Be careful if your writing an essay. Note their dependancy on crude and manufactoring and their unstable government structure (i don't know if they have an unstable government, but 'communism' is rather unstable historically).
 
  • #3
I know - i focusing on the fact that china has capitalist zones, abundant and cheap labour, and a consumer-based economy
 
  • #4
Check out the CIA world fact book. It has useful information for every country in the world. As for finding statistics for cost/unit you will probably be hard pressed to find this stat for the national economies of the US, China, and Japan etc. since cost/unit is marginal cost-which is usually on discussed on a microeconomic level.
 
  • #5
student007 said:
When was capitalism first introduced to communist china? I know that this was done by Deng in the 1970s, but i don't know when.

Furthermore, can anyone find me a link that shows some type of statistic (preferably in chart or graph form) that displays China's low labour cost/unit relative to other countries such as the U.S and Japan? I've looked everywhere! This is for an economics essay I am writing regarding China's potential to become the world's economic superpower, and would just like some strong statistics to proev my point.

Thanx

Late 1978.
http://www.odci.gov/cia/publications/factbook/geos/ch.html
 
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Related to When Was Capitalism First Introduced to China? Stats on Labour Cost/Unit

1. When was capitalism first introduced to China?

Capitalism was first introduced to China in the late 1970s. After decades of a state-planned economy, Chinese leader Deng Xiaoping implemented economic reforms that opened up the country to foreign investment and encouraged private enterprise.

2. How has capitalism impacted China's labor cost per unit?

Since the introduction of capitalism, China's labor cost per unit has increased significantly. This is due to the rapid growth of the economy and the rise of the middle class, which has led to a higher demand for better wages and working conditions.

3. What are the current labor cost per unit statistics in China?

According to recent statistics, China's labor cost per unit is around $6.50 USD. This is significantly lower than many developed countries, making China an attractive location for manufacturing and production for many multinational corporations.

4. How does China's labor cost per unit compare to other countries?

China's labor cost per unit is relatively low compared to other countries, especially when it comes to manufacturing and production. This is due to a combination of factors such as a large population, low labor regulations, and government incentives for foreign investment.

5. Is China's labor cost per unit expected to continue rising with the growth of capitalism?

It is likely that China's labor cost per unit will continue to rise as the economy grows and the demand for better wages and working conditions increases. However, the rate of increase may slow down as the country faces competition from other developing countries with lower labor costs.

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