Respuesta :
In 2021, the annual per capita disposable income of urban households in China amounted to approximately 47412 yuan.
- Although China occupies a unique niche in the world's political economy, its vast populace and large physical size alone mark it as a powerful global presence. It is still possible to look at the Chinese experience and draw some general lessons for other developing countries.
- Most important, while capital investment is crucial to growth, it becomes even more potent when accompanied by market-oriented reforms that introduce profit incentives to rural enterprises and small private businesses. That combination can unleash a productivity boom that will propel aggregate growth.
- For countries with a large segment of the population underemployed in agriculture, the Chinese example may be particularly instructive.
- By encouraging the growth of rural enterprises and not focusing exclusively on the urban industrial sector, China has successfully moved millions of workers off farms and into factories without creating an urban crisis.
- Finally, China's open-door policy has spurred foreign direct investment in the country, creating still more jobs and linking the Chinese economy with international markets.
- China's strong productivity growth, spurred by the 1978 market-oriented reforms, is the leading cause of China's unprecedented economic performance.
- Despite significant obstacles relating to the measurement of economic variables in China, these findings hold up after various tests for robustness.
- As such, they offer an excellent jumping-off point for future research on the potential roles for productivity measures in other developing countries.
To learn more about China's economy: https://brainly.com/question/3457955
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