Econ160 Essay Example | Topics and Well Written Essays - 1250 words - 1

Econ160 - Essay ExampleMy parents belongs to several contemporaries of Guanxi where I am expected to inherit his position.If I bequeath be living in China, I better be sure with the place that I will live. It is because the Chinese government prohibits the selling of places as their insurance policy response to avoid speculation in the housing industry. I will be stuck in the family unit that I will choose for a very long period of time so I better take my time before buying a house. Unlike in the US where the housing market is mulish by market forces as enunciated by Friedman in the defend Capitalism and independence where price and availability is determined by the law of supply and demand where I can resell my house anytime I want it subject to the same law (supply and demand), Chinese government will in force(p) not allow the resell and even pegged the price.China may now allows private ownership of houses still with restrictions. With my present economic stature, I b elieve I would be able to afford a house and not in a crampy apartment or shoebox as what Hedrick Smith had described in his book The Russians. Only that my house will not form part of my estate where I can resell for profit or I will go to jail.If I will be in China, choosing my line of credit will be partly determined with how the opportunities present to me. Unlike in the US where choosing an occupation is determined by personal preference and applying on it base on merit, it will be different in China. The cliche its whom you know more than what you know applies. If my father belongs to a Guanxi or the network of power elites, he may recommend me to some of his associates in the network as expounded by McGregor in his book The political party and will accept whatever occupation that will be given to me. From there, my future will be secured because I will be under the patronage and care of my fathers Guanxi and I will later develop my own network. I will first learn the rope o f the business until I