Free Critical Thinking On China’s Transition

China being the world economy engine has been able to cut down poverty levels with success in rapid growth that stir their economy. Pre-1978 being marked with some events that promoted a rapid demographic transition that included rapid strides in human development in health, women’s status and education. The transition can also be felt in the trauma of cultural revolution where there is a need for reforms and pragmatism. The changes brought about Dengism that’s a series of political and economic ideology which seeks to adopt the people to the existing socio-economic conditions in China.
The rapid growth rate indicated economic growth that allows both rises in consumption and in rates of saving and investment. The economic growth would, however, come at a price that frustrated the China society through poverty, inequality and economic imbalance. Though there has been a mass reduction in poverty levels, it had increased during the last years of the pre-transition era.
The fast growth rate attributes to the poverty alleviation levels witnessed after 1985 rather than the anti-poverty policies which were flawed by poor counties and minimum livelihood guarantee. As poverty lines are being pulled down it brings a score of millions back into poverty, the trend being caused by income inequality which has slowed poverty reduction. Income inequality widens the gap of growing inequality in China whose measure of inequality of wealth has reached 0.47 which surpass the warning record of 0.4 as pointed out by government affiliates.
The only way for the country to get back on track is targeting inequity in Chinese policies which have to lean towards rebalancing the economic growth. As rebalancing the economy takes shape, the demographic change has to be taken into consideration as they're rapid aging and an impending decline in China’s population. The aging population being vulnerable to diseases and disabilities they raise dependency ratio that would decrease the number of the young labour force by 50% in the coming decade.