After The Initial Success

Implemented macroeconomic reforms to appeal to international investment and increase employment levels. Aligned bonuses and plans to foster work in key occupational areas. Implemented cost-effective learning actions to achieve radical improvements of productivity levels. These activities included reforms with their educational systems, partnerships with private sector organizations, and incentives to make training available to the poor. Built a good infrastructure, with roads, ports, and airports to manage the distribution of produced products and services properly.

The group of actions implemented, show that the “secret formula” depends on the alignment of key elements around a compelling business strategy, dedication of stakeholders, and continuity of activities. In 1976, when Mao-Tse Tung died, China was one of the poorest countries on the planet. Deng Xioping the new leader of China initiated a fresh administration with radical macroeconomic reforms.

At the outset, Deng Xioping concentrated his reforms on rural China. After the initial success, Xioping creating special zones across the boundary where foreign companies could manufacture products to be sold far away. Companies benefited with low fees and low incomes, and the strategy produced employment for millions of people. As a total result, China increased exports of produced products dramatically. 20 billion in computers, mobile phones, CD players, and other products.

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China built today’s infrastructure of streets, airports, railroads, and ports to distribute all merchandises manufactured in the national country. China taught us a powerful lesson on how to produce a seamless integration of unskilled people into the labor market. Peasants coming from rural China were trained to work in the special production zones. The introduction of a competent Chinese workforce had not been easy.

Rural workers and workers that came from bureaucratic government jobs required frustrating training to build up needed competencies. The training was part of the contracts negotiated by the Chinese government with foreign companies. These companies, enticed by low wages and low fees, trained Chinese employees in the latest manufacturing technology and methods. The economic success of China was a mixture of proper macroeconomic policies to attract foreign investment, the creation of employment in key occupational sectors, important investments in infrastructure, and the development of a flexible and skilled workforce.

If China could improve their economy in such a dramatic way, other countries can start a virtuous cycle too. China has important disparities to solve Still; there is a big difference in salaries from people in rural areas to those working in the special manufacturing zones. The environment is another certain section of concern, especially in important cities that suffer from high pollution degrees of the environment and water.