By John Joshua

This two-volume publication addresses the industrial transformation happening in China at the moment. the writer investigates China's family and foreign rules, the influence of those rules on financial progress, and their influence at the caliber of lifestyles for the folks of China. within the first quantity, the writer distinguishes among financial development and sustainable monetary improvement, and discusses China's present and previous monetary rules in the direction of development. Chapters additionally discover the structural transformation of China's financial system and its more and more consumer-oriented nature. the second one quantity seems to be extra particularly on the results of family rules at the caliber of existence for individuals residing in China. the writer examines the distribution of source of revenue, the relief of poverty, the chinese language schooling method, and the environmental price of monetary progress. those volumes should be of specific curiosity to researchers and students excited by China's rising financial power.

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Extra resources for China's Economic Growth: Towards Sustainable Economic Development and Social Justice: Volume II: The Impact of Economic Policies on the Quality of Life

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3 per cent in 2013. 1 per cent in 2013 (National Statistical Yearbook 2014). With the introduction of a two-children-policy per family from 1 January 2016, the child dependency ratio is expected to increase slightly, while the old age dependency ration is expected to increase further. Many rural workers are living on subsistence or near-poverty wages and their conditions of living go together with high levels of corporate profits.  14). The first part of Ranis’s definition of a minimum subsistence level of existence has been met; however, the second part has not been fully met as yet, especially in rural regions.

Ever since the late 1980s a huge number of rural migrants have moved to urban areas in search of work without necessarily having the required residence permit. Most migrants return to their families in the countryside when they are unemployed. The floating population increased from 121 million in 2000 to 245 million in 2013 according to the National Bureau of Statistics of China (2014), based on the national population census of the floating population.  13), approximately 275 million rural migrants were living in urban areas in 2010; furthermore, as many workers from the countryside are not registered in urban areas, there may be as many as 500 million Chinese workers who have moved from rural to urban areas over the last 35 years.

Within a dual economy, wages in the rural sector are at subsistence level, but these are expected to increase, first slowly, then faster, once the expanding industrial sector has absorbed the surplus supply of labour from the rural areas. An emerging labour shortage will increase the wage level first in the industrial sector and then in the agricultural sector. The influx of rural workers into urban areas lowers the wages in urban areas. 2 Balanced Path Development 17 The surplus of labour also causes the distribution of income between the rural and urban areas, and between the lower and higher income earners, to widen.

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