China: past, present, future

• Author: Suciu, T.
• Position: Dept. of Finance, Accounting and Economic Theory, Transilvania University of Brasov
• Pages: 155-162

Bulletin of the Transilvania University of Braşov • Vol. 6 (55) •No. 1 - 2013

Series V: Economic Sciences

CHINA: PAST, PRESENT, FUTURE

Titus SUCIU

1

Abstract: This paper presents China’s adva ncement, starting with the past,

laying emphasis on the pr esent and prefiguring the future. The Dra gon is one

of the principal a ctors of globalization, from both the finan cial a nd economic

point of view, and from the military and politica l perspective.

Key words: China, history, pr esent, future.

1 Dept. of Finance, Accounting and Economic Theory, Transilvania University of Braşov.

1. China’s History

China has a rich history of over four

thousand years, and because of that the

Chinese culture and civilization are

considered of international reference.

China played the main part in eastern Asia

starting around the year 2000 before

Christ, during the dynasties Xia, Shang and

Zhou. During this period, the cultural and

dynastic institutions were consolidated.

Much later, the Han dynasty (206 – 220

BC) contributed to the expansion of the

Chinese Confucianism in the area.

Between the 15th and the 18th centuries,

China was practically the main actor in the

region, especially on the stage of the

commercial exchanges in Asia.

The decline of the Chinese empire took

place during the Quing dynasty (1644 -

1911). Internally, the administrative inertia

did not facilitate the adoption of the

reforms which could bring economic and

social development, although China had

the advantage of some evolutionary

technical discoveries, which were thus

exploited by other countries. China was

faced with the external European influence

of the administrators, traders or soldiers

who brought into the country the western

models and fashions. The critical point of

China’s decline was the opium war, which

took place between 1839 and 1842. From

China, the European countries imported

spices, tea and silk, with Europe offering

less in exchange. The opium was the

immediate means to counter the deficit.

After this war, China lost the battle against

drugs, was militarily defeated, lost the

charging autonomy for the goods it

produced, as well as the piece of land

which would later become Hong Kong.

The autochthonous population felt

humility and abandon faced with the

exodus of the British, Germans, French,

Russians and Japanese [4].

Synthesizing, there are three periods that

can be distinguished as deciding

milestones in the long history of China:

- the imperial period, which lasted more

than two millennia, intermittently;

- the period of “foreign humility”, during

the 19th century and the beginning of

the 20th century

- the first three decades of the communist

regime, from 1949 until the beginning

of the reforms from the end of 1978,

including the first couple of years of

reforms that followed.

The imperial past of China has, even

today, a strong influence on the country.