Comparison Of Privatization And Social Welfare Aspects Of Economic Reforms In Poland And China From 1989 To 1999

Period from 1989 to 1999 was a time of enormous economic changes in Poland and China.This work analyzes the issue of economic transformation in Poland and China during that decade and its main focus is on privatization and social welfare aspects of transition period in aforementioned countries.Author shows the influence of internal and external factors on the course of reforms in China and Poland.In case of Poland special attention is paid to the initial stage of transformation period,known as Shock Therapy.Author discussing positive,as well as negative aspects of economic transformation from central-planned system in both countries.Any economic reforms,which are designed to improve future situation of the society,often come with a cost.That cost is social security of people,creating a certain circle,where economic aspects are driven by social aspects and needs of society in an endless pursuit to ensure a good standard of living and economic development of the country.Having that in mind,author covers and evaluates social welfare reforms in both countries,touching upon topics such as poverty,unemployment,education system,medical care and pension system in both countries.The conclusion of the work is that although no transformation framework is perfect,the Chinese economic change was superior to Polish.While Poland was following guidelines from World Bank and International Monetary Fund,and had support of Western powers,the transformation period left Poland struggling to keep up with other countries in the region.China at the same time,left without support of international organizations,came out almost unscathed,with booming economy and future that – according to many – holds China as a number one power in the world.