20th Century Economic Systems Essay

Describe the economic and political systems of three countries on three different continents (one of which is the United States and the other two non-western) in the 20th Century. Compare their political and economic systems and discuss the effects on each country s relative progress in achieving economic growth, and fair distribution of income and economic opportunity.

In this capstone paper, I would like to discuss the economic and political systems of three countries on three different continents, which are the United States (North American), the Republic of China (Asia), and the Republic of South Africa (African), in the 20th Century. Then, I would compare them gether to focus more on their economic growths and the distributions of income among those three areas. Firstly, let us start with the historical economic and political systems in the United States.

In the early of the 19th century, the United States was attracting foreign immigrants by expanding its territory under the circumstances of western movement. Since the growing of population, Americans started to develop farming structures, construct transportation network, and most importantly, they devoted themselves in extracting natural resources, such as gold, iron, mine, coal, et cetera. This period established the foundation of the United States’ evolutions of industrialization, economics and politics in the 20th century.

Because of the outbreak of World Warlin 1914, the United America was drifted into war unfortunately in 1917, which led the depression of capitalism happened thereafter in 1929. The United States was not the only victim during the depression of capitalism, it has influenced countries all over the world. Great Depression generated millions of people unemployed, a large number of farmers have been forced to give up their lands, many factories and shops had to close down, and plenty of banks went out of business.

In 1932, President Roosevelt started to fully implement the government interventions in American depressing economics system, which is called “New Deal”. Franklin Roosevelt has recommended that it is the government responsibility to end the period of Great Depression. This is the way how American capitalism political system took charge in the bad times of economics during that period, which definitely helped American to be one of the most powerful countries in the world after the end of World War II.

In my opinion, American Capitalism political system is the best way to help depressed economic to recover in the post-war decades. After the World War II, the United States economics has been stimulated for a long time until the inflation of currency happened in the late 70s of the 20th Century. Secondly, I am going to introduce about the historical economic and political systems in the Republic of China. In the beginning of the 20th Century, the idea of bourgeois democratic revolution spread widely in China, as the foundation of Chinese Revolutionary League in 1905.

The Revolution of 1911 is a bourgeois democratic revolution of anti-imperialist and antifeudal in the history of modern China, which overthrew the rules of Qing dynasty and the monarchy over two thousand years, and established bourgeois democratic republic of China. In the meantime, the Revolution of 1911 also diminished the govern power of imperialism in the colonials of China. During the World War I, the western imperialism countries were busy in the war, so they temporarily mitigates the aggression of Chinese economy; thus, Chinese national industrialization got a short period development.

After the May 4th Movement in 1911, Marxism began to spread in China as the new trend of the mainstream. Due to the influence of Marxism, the communist groups successively have established in many places in China in 1920. Then, the Communist party of China has born in 1921, and pointed out the direction of Chinese Revolution. From the year 1927 through the year 1949, China was under a very long war time; therefore, the economics was depressing, and the political system was very unstable.

In the October, 1949, the People’s Republic of China had founded by the Chinese Communist Party, and the city of Beijing was settled as its capital. The first dramatic economic growth after the foundation of the People’s Republic of China happened during the year of 1953 to 1957, the national income and GDP has increased by around 9. 00 %, mainly due to the revenue created by 300 million of farmers on the 470,000 square kilometers farming land. This strengthened both economic and political systems in the new era of China.

Then, from the year 1958 to 1966, which is the fastest economic growing period in China in the 20th century. The Chinese government stated to encourage people to focus on industrial development. Chinses people were starting to manufacture planes and cars, to focus on heavy and precise machine productions, and to devote themselves in developing high technologies of exploiting nature resources, such as, coals, mines, gold, high-grade metals, et cetera. However, the Chinese Communist Party want to stabilize its political power while Chinese economic had a high speed of growth.

To make sure the political power of the Party, Chairman Mao had made a bad decision, which is called “the Great Culture Revolution”. In this “culture” revolution, Chinese Communist Party fooled the people by teaching Chinese people the ‘Wrong knowledge”, that “Chairman Mao and the Chinese Communist Party is the best and the most important organization among everything”. This dreadful revolution maintained 10 years, from 1966 to 1976. During this period, it caused the China and Chinses people to suffer the most severe loss after the foundation of 1949.

Although the political system had a successful stabilized environment in China, it hurt Chinese economics with a huge loss. After 1979, Chinese Communist Party had put its focus on the economic and construction development again, then, the People’s Republic of China has been back on track. In the rest 20 years of the 20th Century, Chinses political system has been stabled and economic had a rapid growth with many successful diplomatic activities. Thirdly, I am going to talk about the historical economics and political system in the Republic of South Africa. In the early of the 20th Century,