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Asian Economics

Traditional, Command, or Market. Asian Economics. The People’s Republic of China was originally designed as a command economy.

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Asian Economics

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  1. Traditional, Command, or Market Asian Economics

  2. The People’s Republic of China was originally designed as a command economy. When the Communists came to power in 1949, nearly all China was agricultural. Mao Zedong was the chairman of the Chinese Communist Party and ruled China until 1976. The leader decided how much would remain in farming and how much would switch to industrial. The traditional farms were reorganized into collective farms. ECONOMY OF CHINA

  3. The Great Leap Forward was a period of economic reorganization for China during the 1950’s. When conditions did not improve fast enough, the Cultural Revolution of the 1960’s came about. Through this program, they tried to do away with all previous programs and reorganize farms, businesses, and society. The ones in charge wanted to do away with everything old – to have a new approach – this program failed as well. ECONOMY OF CHINA

  4. During the 1970’s, the leadership of China began to reorganize again – the Four Modernizations. -Farmers were given more control -Industry shifted from heavy industry to consumer goods -Factory workers and managers were allowed to make more decisions -Special Economic Zones were set up along the coastal areas to encourage foreign business. ECONOMY OF CHINA

  5. Many Chinese people have small businesses today even though the government still has final authority in most matters. ECONOMY OF CHINA

  6. One of the most technologically advanced economies in the world. The government has a close and cooperative relationship with major industries in Japan. Because they do not spend much money on maintaining a military, Japan is able to invest more in industry and technology. Due to low natural resources, there is a need for industry and world trade which requires a well-educated work force. ECONOMY OF JAPAN

  7. Crops in Japan are often planted in terraces carved out of hillsides. The government often buys farm goods to keep prices high enough for farmers to make a profit. They also do not let foreign countries sell certain farm products in Japan if those products will compete with Japanese farm goods. The government uses tariffs on imported goods. ECONOMY OF JAPAN

  8. Has one of the least open and most government-directed economies in the world today. The Communist Party controls the economy. North Korea’s economy is a command economy. The government owns all the land and the factories, and decides what jobs will be done and who will do them. ECONOMY OF NORTH KOREA

  9. Farms in North Korea are organized into cooperatives that are owned by the government. Their agriculture does not produce enough food to feed the population. It does not help that the government will not take aide from the countries of the West. One of the reasons they are facing economic problems is that the government has spent millions on the military rather than investing money in other aspects of the North Korean economy. ECONOMY OF NORTH KOREA

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