Your assignment is to prepare and submit a paper on will democracy help or hinder china’s development. Since the beginning of the far-reaching economic reforms of 1978, China’s economy has been growing at a breakneck pace of 9.5 percent a year1. If it were now to grow at 8 percent per year, doubling every nine years, income per person in 2031 for China’s projected population of 1.45 billion would reach $38,000. (At a more conservative 6 percent annual growth rate, the economy would double every 12 years, overtaking the current U.S. income per person in 2040).
Hoguet, (2004) also figures out that the Chinese economy has shown a growth rate of 9.3% per annum, with a per capita income that is growing at about 10% per annum. Today China is gradually yet firmly integrating into the global economy. If we take a look at the manner in which Chinese governments have functioned, it becomes very clear that till the globalization regime came into force, Chinese governments were not willing to open up to the outside world, but now things have changed a lot. This is an indication of the willingness of Chinese rulers to go for better forms of governance. America the only superpower, per se, takes pride in its democratic institutions and the rich democratic heritage. The manner in which the country has progressed over the years certainly points towards the effectiveness of its successive governments. The other superpower named USSR, on the other hand, did not believe in the democratic form of government. But in the year 1990, when USSR fragmented into a number of smaller states, Russia adopted the democratic setup. Waldron (2004) points out that in the initial years after the end of communism, Russia seemed to become a problematic state with problems like a rise in poverty, the collapse of Rouble, problems of governance, etc. But subsequently, things started moving in the right direction with respectable developments in the economy, swelling of the foreign exchange reserves, freedom of the Russian media, etc.