One might ask, how both of these countries with a Communist government could achieve such high level of economic growth, hence in order to understand how their transformation led to today's development, it is important to compare and contrast gradualism with shock therapy economic reform approaches. ... Gradualist approach to reform can be defined as a sequential implementation of minimum bangs (terminology from Williamson, 1991). ... The first one, which extends from Deng Xiaoping's 1978 "opening and reform" to the early 1990's, the Communist Party emphasized rural devel...

• Word Count: 2154
• Approx Pages: 9
• Grade Level: Undergraduate

Despite being a Communist state, China has increasingly been the champion of global free market capitalism, with its economy growing while Western ones stagnate. ... Accordingly, hiding one's capabilities and biding one's time became a defining guiding principle for Chinese diplomacy. ... China has practiced great patience, as they are aware that with their continued rise might come a clash of socialist ideology against the democratic ideology of the United States. ...

• Word Count: 1993
• Approx Pages: 8
• Has Bibliography
• Grade Level: Undergraduate

That acme of the globalization declined in the first half of the XX century, time that was characterized by the increase of the protectionism inside a mark of national wars and among the big powers, world wars, revolutions, peak of the ideologies authoritarian and vast economic uncertainty and politics. ... The opening toward the external world has been part of a wider overturn toward a bigger dependence of the markets and of the private company, especially as many countries in development and communists were checking that a high degree of planning and the government's intervention...

• Word Count: 2186
• Approx Pages: 9
• Grade Level: Undergraduate