Economic Analysis of China Research Paper Example | Topics and Well Written Essays - 1500 words

Economic Analysis of China - Research Paper Example The economy of the country has become one of the engines for growth since the country got enlisted in the World Trade Organization (WTO). The country emerged as the second largest economy at exchange rate of the market and the share in the output worldwide soared. The sudden emergence of the country has benefitted the globe but the other countries had to involve themselves in some adjustment processes to deal with the increase in the low skilled labor. The current account surplus for the country took the steep step with integration of the country into the global economy. The contribution of the country in global growth is increasing exponentially. The economic cycle of China has the potential to influence the rest of the World, with major influences on the OECD countries. The share of the imports of the country is increasing in the exports of the rest of the economies. The growth performance can be partly explained by the rapid expansion in the stock of capital as well as solid suffi ciency gains. The approach towards deficit as well as debts acted as the constraint for the recognition of the fiscal policy for a long time. Government deficits were absent in the period of 1958 to 1978. In the period of 1979 to 1993, foreign as well as domestic borrowing took place but mostly limited. The borrowing of the government became significant after the year 1993 and government debt took the rising curve which reached to 22% of GDP in the year 2007. In fact the country adopted the fiscal policy of expansionary type after the financial crisis in Asia. As a result there were considerable fiscal deficits. The deficit in the budget witnessed an increase from 0.7% of Gross domestic product in the year 1998 to 2.6% of GDP in 2000. The economy experienced a contraction in deficit which includes the extra budgetary funds as well as the funds for social security. There were positive

Council Reforms on Basement Apartments Assignment

Council Reforms on Basement Apartments - Assignment Example The fiscal crisis had hit the city forcing the government to forge creative ways to house its people. In the 1980 and 1990s, the city’s housing expenditures amounted to more than three times the housing expenditures for the next 32 years (Tauranac, 1979). This was facilitated by former Mayor Ed Koch’s ten-year plan on housing. Initially, Koch intended the plan to be actualized in five years. However, due to the increase in illegal housing units, and the inability of the state to provide housing the plan was stretched (Navarro, 2013). The graph below shows the increase in illegal apartments in New York between 1983 and 2013.   Challenges, however, have rocked the housing sector forcing people to take up alternative housing for example cellars and basement apartments. The government, however, does not support this action, as these housing units are not fit for human occupancy due to health and safety risks as specified by The New York City Building or Housing Maintenance code, Article 5- Occupancy of cellars and basements.   The policy targeted for reforms is the Housing Maintenance Code, (ARTICLE 5- Occupancy of Cellars and Basements). It states that basements, cellars, and â€Å"granny flats,† should not be rented or occupied due to health and safety measures. This policy can be found on the website.   As you are aware, Statistics from The housing experts estimate that there are 100,000 illegal apartments in New York City. Last year, Buildings Department officials acknowledged 18,126 complaints concerning illegal units (Belsha, n.d.). The City’s Department of Buildings’- DOB issues annually more than 4,440 violations for illegal conversion of basements, cellars, and attics: - which are not fit for human occupancy due to health and safety risks.