Analysis of Problems Faced by China's Economic Development

Abstract

The world community is taking note of China's robust momentum and quick economic expansion. China has had remarkable economic growth since enacting reforms and opening up, winning praise from all around the world for its accomplishments. As the second-biggest economy in the world today, China is a major force behind the advancement of the international economy. China is dedicated to continuing its steady progress and increasing its contributions to world prosperity in the future. But as China's economy develops further, some underlying problems have become apparent. This essay looks at the conflicts and difficulties that China's current economic development process is facing and suggests possible fixes. It points out a number of major issues, including a lack of ability for independent innovation, an excessive reliance on antiquated manufacturing techniques, a general lack of industrial standards, and an unsustainable load on the environment and resources. It will take constant commitment to research to address these problems in order to find gaps and provide workable solutions.