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In What Ways Does the Present Chinese Economy Differs from Its Command Economy?

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प्रश्न

In what ways does the present Chinese economy differs from its command economy?

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उत्तर

The present Chinese economy has adopted the ‘open door policy’ to generate higher productivity by investments of capital and technology. It differed from its command economy in the following manner:

  1. It broke stagnancy of command economy.
  2. Command economy lagged behind the industrial production but Chinese economy recovered it by privatisation of agriculture and industry.
  3. The present Chinese economy established new trading laws and created Special Economic Zones leading higher rise in foreign trade. During Command economy the international trade was minimal and per capita income was very low.
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Association of South East Asian Nations (ASEAN)
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अध्याय 2: Contemporary Centres of Power - Exercises [पृष्ठ २८]

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एनसीईआरटी Political Science Contemporary World Politics [English] Class 12
अध्याय 2 Contemporary Centres of Power
Exercises | Q 9. | पृष्ठ २८

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Read the following passage carefully and answer the question.

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Read the following passage carefully and answer the question.

ASEAN was and still remains principally an economic association. While the ASEAN region as a whole is a much smaller economy compared to the US the EU, and Japan, its economy is growing much faster than all these. This accounts for the growth in its influence both in the region and beyond. The objectives of the ASEAN Economic Community are to create a common market and production base within the ASEAN States and to aid social and economic development in the region. The Economic Community would also like to improve the existing ASEAN Dispute Settlement Mechanism to resolve economic disputes. ASEAN has focused on creating a Free Trade Area (FTA) for investment, labour, and services. The US and China have already moved fast to negotiate FTAs with ASEAN.

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