Jiang zemin’s Economic policies Hannah Eng, Eileen Qiu, Lynn Maekawa

Jiang Zemin… Came into power after Tiananmen Incident (2nd) He replaced Zhao Ziyang, who was purged for supporting the student movements at  Tiananmen Square (1989). Came up with the term "socialist market economy” based on the power of the state-owned sector and and open-market economy capitalist economy driven by market forces Dominance of the state-owned sector and open-market, which means there are no taxes, licensing requirements, etc. http://factsanddetails.com/china/cat2/sub7/item76.html

THESIS Although there are criticisms regarding his value for fast-paced short-term economic growth and neglect for the environment, Jiang Zemin was an overall successful leader in economics, helping the CCP stay in power with instigating an economic boom, avoiding turmoil and instability and comparatively had a peaceful reign. http://factsanddetails.com/china/cat2/sub7/item76.html

Continued Jiang was the first ‘modern’ leader after Mao, who was not an old guard Chinese leader and not a part of the Long March Extended the market system More economic freedom / openness Wanted to limit population growth Aimed to improve science and technology

Economic Policies Jiang Zemin w/ Hu Jintao advanced China’s previous economic reforms introduced by Deng Xiaoping Aware of problems such as the environment, social inequality, development frontiers, but was not in a hurry to fix them Aimed to extend the market system and increase the economic openness Introduced measures to limit population growth after the departure of Mao, who was in favor of population growth The policy possible helped China to raise its per capita income The population limit may have had environmental benefits 

He fought against corruption He is credited for reforming China's economy without causing a lot of disruption. He claimed to be a corruption fighter even though some of his allies were sketchy. "Strike Hard”: a major crackdown on corruption led by Jiang that targeted corruption, organized crime, smuggling, and descent Around 3,500 people were executed Some criminals arrested for non-violent crimes (ex. Gambling / drug smuggling) No major disruptions happened during his rule.

Infrastructure Investment Used external investments of over three billion US dollars to construct infrastructures like subway, Nanpu Bridge, pollution treatment (water), airport and telephone exchanges. Deng Xiaoping Theory, drew up a series of important guidelines for an all-round advancement of the cause of building socialism with Chinese characteristics into the next century. http://www.chinatoday.com/who/j/jiangzemin.htm People lost in the government, but it invested in the infrastructure, leading to consumerism China in 1989 right after Tiananmen – political unerest economic slowdown JZM is brought in as a stop-gap measure to stop the distruption, but throgh his own political savvy he gets control,

Results of his Economic Policies Economic problems that Jiang faced (problems left behind by Deng): Unemployment rose 40% in some urban areas. Stock markets fluctuated greatly.  The scale of rural migration into urban areas was unprecedented anywhere, and little was  being done to address an ever-increasing urban-rural wealth gap. Official reports put the figure on the percentage of China's GDP being  moved and abused by corrupt officials at 10%. A chaotic environment of  illegal bonds issued from civil and military officials resulted in much  of the corrupted wealth ending up in foreign countries. 

Jiang’s aims and actions He believed that a stable government with highly centralised power would be a prerequisite, choosing to postpone political reform. Continued to develop the Special Economic Zones and coastal regions.  Performed boom which helped the CCP hold on to power after Tiananmen in 1989

His Legacy During his rule as General secretary of the CCP from 1989-2002 and as Chinese president from 1993-2003. China restored sovereign control of Hong Kong (1997) and Macau (1999) 2000: Beijing won its bid to host the 2008 Olympics, and China was newly recognized member of the WTO China survived the Asian financial crisis; China's economy grew at an annual average of over 9% during his time. http://edition.cnn.com/2011/WORLD/asiapcf/07/07/china.jiang/

Criticism Technically, there was corruption because the stability was brought through bribery and corruption Environmental factors – pollution fix the environment later He focused on the development Wealth gap got worse / rising economic inequality between poor and rich increasing wealth gap between rich and poor sacrificed environment for economic growth

THANKS!

Works Cited http://factsanddetails.com/china/cat2/sub7/item76.htm http://www.chinatoday.com/who/j/jiangzemin.html