China's economy Essay Example | Topics and Well Written Essays - 500 words

China's economy - Essay Example When per capita income is measured in terms of purchasing power, it has gone up by three times – as per the International Monetary Fund, from $2800 in 2002 to almost $9100 in 2012. That is certainly a commendable achievement by any standard! China is now no more a poor country but is placed in the middle-income bracket. China became a member of World Trade Organization in 2001 and that gave a big boost to Chinese exports. Chinese exports grew by average 30% between 2002 and 2007 making it the worlds largest exporter then. In exports, China holds 10% of the global market. Real estate contributed significantly in the GDP growth after 1998 when the establishment opened the market. Between 2002 and 2010, real estate of China registered average growth of 17%. That has now gone down to almost 12 % due to controls enforced by the government. All said and done, the moot question is whether China will be able to maintain such spectacular growth in the years ahead. China is more poised to follow a well-known economic principle – the law of diminishing returns that with each unit of fixed investment, the marginal return declines meaning each fresh unit of capital will produce less output than the previous one. In other words, to maintain same growth, the country needs to invest higher and hiher capital each year. China is now integrated with the world economy. Post 2008 financial crisis, China is unable to push more exports to the developed world due to large scale unemployment that prevails with stagnating GDP numbers . Export growth rates for China will be declining in the years ahead compared to what has been registered in the first decade of new millenium. That leaves little scope for China to maintain 10% GDP growth in the years ahead. Chinas cost advantage in the world market is declining rapidly because its average wage rates have gone up four times since 2000. Moreover,

Free Will Essay Example | Topics and Well Written Essays - 1000 words

Free Will - Essay Example This is in relation to the creation of the perfect conditions and circumstances that lead to the various actions and events in which man participates and engages. This is in the belief of having freedom of choice to make a free decision, as to what one want. However, it is not the case as all events are present beyond one’s control in the form of having the past play a crucial role in the future. In light of this, if one were given sufficient and comprehensive information on every particle that influences his or her decisions, it would be remotely possible to come up with every scenario that is likely to occur in the course of his or her lifetime. This means that, free will is a concept limited to beliefs that man holds in relation to his inability to acquire information on all aspects of life that are relevant to his wellbeing. This implies that causal determinism takes precedence over free will, as the two are independent aspects that occur contrary to one another. In additi on, psychology dictates that, in the deterministic world where causal determinism thrives, the events that take place are based on human behavior and neural functions (Smith and Oaklander 73). This is to mean that human behavior, neural functions are correlated, and that one is caused by the other. As a result, every event in the life of a human follows a set of events, which are the decisions that one makes. Thus, this makes it that the decisions that are made as a result of free will are redundant, as they end up being part of causal determinism. This is following the definition of causal determinism as having all set of condition preset before a certain event takes place, as is the case with the events that occur following decisions that humans make. Still, psychology proves that causal determinism is the way to go due to the relationship that the two hold in relation to cause and effect. This is as seen in then prediction of human behavior concerning actions and decisions throug h theoretical means by measuring all available aspects of individual life. Another issue that is raised in relation to causal determinism and free will is that of foreknowledge. This is in the case where there exists a superior being or power, God that knows every move and decision before man makes it. In light of this, it is impossible for man to have a free will if God already knows every move before it is made meaning that the move may be predetermined. As a result, if man’s will was free, then causal determinism dictates that no one can be able to predict or determine the next move that an individual makes (Smith and Oaklander 138). In addition, it means that the decision that humans make are determined or caused by external forces beyond human control. This is as seen due to unforeseen circumstances in which one engages in certain behavior with other factors or aspect of the activity unbeknownst to them, which results in making certain decisions that later affect or trig ger the occurrence of a certain event. This proves that causal determinism beats all forms of free will due to lack of sufficient information to secure freedom of choice in behavior or decision-making. It is the same determinism, which dictates that the past is closed; thus, one cannot