The Japanese and Chinese economic models Research Paper - 1

The Japanese and Chinese frugal models - Research Paper ExampleThe economic models perform both basic functions, which include selection of information on the basis of econometric study and simplification of the gathered information. Economic models can be classified as stochastic models, non-stochastic models, qualitative models, quantitative models, equilibrium, and non-equilibrium models. If we talk closely some of the benefits of having the economic models, we can translate that economic models are widely used for a variety of purposes in the economic environment of every country. about of main uses of economic models include guiding resource allocation decisions, forecasting the economic activities, planning the functions of economy, and making appropriate decisions related to the economy. All of these uses make economic model one of the most important models for the development of any country. Let us now discuss planning functions of the economic models of China and Japan, which are two of the most progressive and well-established economies of the world. Chinese economy has seen significant success and development over the last decade. The communist government of the People Republic of China has been productive in developing a strong Chinese economy, which has started developing its roots in most of the Asian, European, and American markets. Although the politics of China remains communist, the economics readiness be called Advanced Mercantilist (SNS 2010). Chinese economists have analyzed the perfects ways to deal with the west by considering the cases of South Korea and Japan and have come up with a well-designed economic modal, which has the ability to make the Chinese economy one of the most stable economies of the future world. If we talk about the Japanese model of economy, we can say that Japanese economic model has proved to be a very useful tool not only for the analysis of the current economic topographic point of Japan.