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Informal Economy Of China
The informal economy of the People's Republic of China refers to a range of informal economic activity that stands outside of the recognized systems of regulations, taxation, and licenses. Although the term is sometimes understood to describe marginal, unregulated, and even criminal activity, there is considerable overlap between the informal sector and formal economy, and the informal economy serves an important societal function in contributing to employment and economic growth. The informal economy in China represents a large portion of domestic output, consumption and employment. Employment in the urban sector represents a major part of the Chinese economy: approximately half of urban Chinese workers belong to the informal economy as of 2004.Johannes Jutting and Theodora Xenogiani, "Informal Employment and Internal Migration:The Case of China," Organisation de Cooperation et de Developpement Economiques, (Beijing, Nov 2007).—a significant increase since the 1990s. It is de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Informal Sector
An informal economy (informal sector or grey economy) is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as troublesome and unmanageable. However, the informal sector provides critical economic opportunities for the poor and has been expanding rapidly since the 1960s. Integrating the informal economy into the formal sector is an important policy challenge. In many cases, unlike the formal economy, activities of the informal economy are not included in a country's gross national product (GNP) or gross domestic product (GDP). However, Italy has included estimates of informal activity in their GDP calculations since 1987, which swells their GDP by an estimated 18% and in 2014, a number of European countries formally changed their GDP calculations to include prostitution and narcotics sales in their official GDP s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
System D
System D is a manner of responding to challenges that require one to have the ability to think quickly, to adapt, and to improvise when getting a job done. The term is a direct translation of French . The letter ''D'' refers to any one of the French nouns , or (French slang). The verbs and mean to ''make do'', to ''manage'', especially in an adverse situation. Basically, it refers to one's ability and need to be resourceful. In ''Down and Out in Paris and London'', George Orwell described the term as something the lowest-level kitchen workers, the , wanted to be called, indicating that they were people who would get the job done, no matter what. The term System D gained wider popularity in the United States after appearing in the 2006 publication of Anthony Bourdain's '' The Nasty Bits''. Bourdain references finding the term in Nicolas Freeling's memoir, ''The Kitchen'', about Freeling's years as a Grand Hotel cook in France. In recent literature on the informal economy, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Economic Reform
Reform and opening-up ( zh, s=改革开放, p=Gǎigé kāifàng), also known as the Chinese economic reform or Chinese economic miracle, refers to a variety of economic reforms termed socialism with Chinese characteristics and socialist market economy in the People's Republic of China (PRC) that began in the late 20th century, after Mao Zedong's death in 1976. Guided by Deng Xiaoping, who is often credited as the "General Architect", the reforms were launched by reformists within the ruling Chinese Communist Party (CCP) on December 18, 1978, during the '' Boluan Fanzheng'' period. A parallel set of political reforms were launched by Deng and his allies in the 1980s, but eventually ended in 1989 due to the crackdown on the Tiananmen Square protests, halting further political liberalization. The economic reforms were revived after Deng Xiaoping's southern tour in 1992. The reforms led to significant economic growth for China within the successive decades; this phenomenon has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deng Xiaoping
Deng Xiaoping also Romanization of Chinese, romanised as Teng Hsiao-p'ing; born Xiansheng (). (22 August 190419 February 1997) was a Chinese statesman, revolutionary, and political theorist who served as the paramount leader of the People's Republic of China from 1978 to 1989. In the aftermath of Mao Zedong's Death and state funeral of Mao Zedong, death in 1976, Deng succeeded in consolidating power to lead China through a period of reform and opening up that transformed its economy into a socialist market economy. He is widely regarded as the "Architect of Modern China" for his contributions to socialism with Chinese characteristics and Deng Xiaoping Theory. Born in Sichuan, the son of landowning peasants, Deng first learned of Marxism–Leninism while studying and working abroad in France in the early 1920s through the Work-Study Movement. In France, he met future collaborators like Zhou Enlai. In 1924, he joined the Chinese Communist Party (CCP) and continued his studies in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Market
A black market is a Secrecy, clandestine Market (economics), market or series of transactions that has some aspect of illegality, or is not compliant with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution are prohibited or restricted by law, non-compliance with the rule constitutes a black-market trade since the transaction itself is illegal. Such transactions include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Participants try to hide their illegal behavior from the government or regulatory authority. Cash is the preferred medium of exchange in illegal transactions, since cash transactions are less easily traced. Common motives for operating in black markets are to trade contraband, avoid taxes and regulations, or evade price controls or rationing. Typically, the totality of such activity is referred to with the definite article, e.g., "''the' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jangmadang
''Jangmadang'' (; ) are North Korean local markets, farmers' markets, black markets and bazaars. Since the North Korean famine in the 1990s, they have formed a large informal economy, and the government has become more lenient towards them. However, merchants still face heavy regulations. A majority of North Koreans have become dependent on jangmadang for their survival. The North Korean government has tried to regulate the growth of the market economy in North Korea using a variety of methods. Some of them, such as regulating the age of traders, has resulted in societal changes such as making women more responsible for earning money for their families. This has caused changes to gender roles in North Korean society. There have been speculations on the possible role of black markets in reforming the North Korean government and its economy, as has happened in China. In 2019, the authorities moved to curb individual economic activity, followed by greater crackdowns in 2021, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of China
The People's Republic of China is a Developing country, developing Mixed economy, mixed socialist market economy, incorporating Industrial policy, industrial policies and strategic Five-year plans of China, five-year plans. —Xu, Chenggang. "The Fundamental Institutions of China's Reforms and Development." Journal of Economic Literature, vol. 49, no. 4, American Economic Association, 2011, pp. 1076–151, . —Nee, Victor, and Sonja Opper. "Political Capital in a Market Economy." Social Forces, vol. 88, no. 5, Oxford University Press, 2010, pp. 2105–32, . —Shue Tuck Wong & Sun Sheng Han (1998) Whither China's Market Economy? The Case of Lijin Zhen, Geographical Review, 88:1, 29–46, —Gregory C. Chow (2005) The Role of Planning in China's Market Economy, Journal of Chinese Economic and Business Studies, 3:3, 193–203, —HUA, HUANG. "The Market Economy in China." Security Dialogue, vol. 24, no. 2, SAGE Publications, Ltd., 1993, pp. 175–79, . —Chow, Gregory C. "Devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
