Ancillary 9

For this essay, I would like to write about the rural revitalization project in China right now.

After experiencing a very rapid economic development. The financial gap in China is staggering, and the bad debt ratio is extremely high. Plus, the development of China at the time depended largely on using the profit from selling industrialized goods to the farmers and buying cheap goods from the farmers. This caused an impressive urbanization problem as farmers were forced to seek work in the cities in the 90s. The crime rates were very high, and the inflation was impressive and caused lots of social instability. After China joined the WTO and gained significant profit worldwide, the government tried to solve this problem by focusing on rural area development. From 2000, the Chinese government initiated a series of policies like “Home appliances going to the countryside” in 2008. After the economic crash in 2008, the global market was listless. To keep the manufacturing sectors moving, the governments decided to let the rural area consume the excess products. With such policies, the people living in rural areas could enjoy a 13 percent discount on buying things. With policies like that, the Chinese rural economies were vitalized and more resilient. Plus, since the population’s ability to consume was increased, the Chinese economy could endure a much harsher international market condition.

I think this topic is worth talking about because the world economy is getting more and more unstable due to the covid disease and the power competition between countries. Plus, many developed countries are facing tremendous urbanization problems. I think the idea of the Chinese government focusing on revitalizing the urban area could greatly enhance the resiliency of the economy and alleviate the urbanization problems many countries are facing right now. I need more search on the policies in China to get a better timeline, and I need to investigate the economic and urbanization problems other countries are experiencing. I need more commonalities between the problems to prove that the policies are worth noticing.