Globalization and development Essay Example | Topics and Well Written Essays - 250 words - 1

globalization and development - Essay ExampleFor example, the government liberalized agriculture at the margin, such that farmers were only allowed to sell their overplus freely at prices determined by the forces of demand and supply if they met their state obligation.Guthrie attributes the increase in sparing growth in china to the process of grocery store reformation in the inelegant. The transition from planned to market economy, lies in the political reforms that have been taking place in the country, from communism to capitalism. However, harmonize to Rodrik, the Republic of China is still mostly communist since the government controls most of the peoples resources. This is however advantageous, as according to both authors, privatization is not necessary in market reformation, though it is advised. Control by the government has ensured a form of direction and regulation in the economy, making it steady.However, the development of China is somewhat of a puzzle since econom ists predict that there give be future consequences to the entire international market. For instance, since it is the most populous country in the world, the fact that its food reserves are inadequate to cope with the rising population will lead to crippling of the grain market by the year 2030. Also, China is the second largest consumer of oil in the world, due to its high demand the prices of oil have been constantly on the increase creating artificial shortage in the international market (Guthrie, 2006).Developing countries can learn a lot from China, which took 25 age to do what others would have taken 30 years or more. The source of its success according to the ii authors is the fact that there has to be government involvement in the process of growth. Countries should not adopt reforms from the uppercase Consensus without taking to regard the uniqueness of their own economies (Rodrik, 2007). Those having planned economies should also consider the adaptation of