COMPARISON OF THE IMPACT OF THE IMPLEMENTATION OF THE CAPITALIST ECONOMIC SYSTEM ON COMMUNITY WELFARE BY THE UNITED STATES AND CHINA

  • Yulia Rimapradesi Darussalam Gontor University
  • Mia Utami Putri Darussalam Gontor University
  • Aurelia Putri Noveri Darussalam Gontor University
Keywords: United States and China; Economic Capitalism; Social Inequality; public welfare.

Abstract

Capitalist economics is an ideology introduced by Adam Smith as an economic system controlled by the private sector and the government does not play too much of a role in trading activities. However, if we look at the bad impact of the Capitalist economic system, there is a social gap between rich and poor people. Because in this system the private sector has the right to seek maximum profits in any way and has the right to increase its business. while ordinary workers can only work and receive wages from the rich, so that the rich get richer and the poor get poorer. So this research will discuss the impact of the implementation of the capitalist economic system on the welfare of society in the United States and China, and whether the progress of these two countries can improve the prosperity of their society. This research uses a qualitative method based on existing literature and information discussing the case. The results of this research are that the United States and China as developed countries and dominate international markets cannot avoid cases of social inequality among their communities. The intensity of the phenomenon of inequality of opinion and even gender continues to narrow, facilities such as education and health in cities and villages are very different, many children in villages experience delays in receiving education compared to children who live in urban areas.

 

References

(2020). Poverty in the United States 2020. Congressional Research Service Informing the legislative debate since 1914.
Akbar, H. (nd). Identity Politics: The Development of Capitalism as China's New Identity in the 21st Century. 12.
Arif, Z., & Efri S Bahri, ZM (2020). The role of Entrepreneurial Islamic Boarding Schools in community development. Journal of Islamic Economics and Banking , 212.
Balme, R., & Lihua, Y. (2008). The Politics of Constitutional Reform In China: Rule of Law as Condition or as a Substitute for Democracy? . New York: de Gruyter Recht.
Characteristics of the United States Capitalist Economy . (nd). Retrieved February 22, 2023, from https://www.studocu.com/id/document/universitas-islam-negeri-syarif-hidayatullah-jakarta/ideologi-ideologi-politik/ciri-ciri-economic-capitalist-america-serikat /36203968
Dollar, D. (2007). Poverty, inequality and social inequality during China's economic reforms. China: World Bank Country Director.
Fatizah, S. (2022). Humanity Vs Capitalism in the Era of the Corona Virus Disease-19 (COVID-19) Pandemic: Patent Exclusivity Vs Compulsory Licenses. Journal of Social Sciences and Education (JISIP) Vol 6 No 1 , 1951-1963.
Huchet, J.-f. (2000). The Hidden Aspect of Public Sector Reforms in China, State and Collective SMEs in Urban Areas. China perspective 32 .
Isman, AK (2022). THE ECONOMY OF CAPITALISM (ADAM SMITH'S UNDERSTANDING OF THE ECONOMY). Makassar: Alauddin Makassar State Islamic University.
Jain-Chandra, S., Khor, N., Mano, R., Schauer, J., Wingender, P., & Zhuang, J. (2018). Inquality in China- Trends, Drivers and Policy Remedies. IMF Working Paper Asia and Pacific Department (international Monetary Fund) , 1-31.
Jianfu, C. (2004). The Revision of the Constitution in the PRC A great leap Forward or Symbolic Gesture? Open Edition Journals China Perspective , 1-22.
Kent, A.H., & Ricketts, L. (2020, December 02). Federal Reserve bank of St. Louis . Retrieved February 25, 2023, from Has Wealth Inquality in America Changed Over Time? Here Are key Statistics: https://www.stlouisfed.org/open-vault/2020/december/has-wealth-inequality-changed-over-time-key-statistics
N., T.M. (2008). "30 Years of PRC Reform: Gradual Reform Full of Adjustments" 30 Turning Points in Indonesian Historiography. Jakarta: Wedetama Widya Sastra.
Nurmamurti, RA, Navila, SF, Budi, ES, AmandaP, AC, Kholifah, DS, & Rizky, L. (2022). United States Policy in Maintaining Global Market Existence Through the Coca-Cola Company_Capitalism: Cola Colonization_. Political, Policy & Social Scientific Journal (Publicio) Vol 4 No 1 .
Pike, L. (2022, July 26). China's economic Inquality is Worse than America's And the Pandemic Hasn't Helped . Retrieved February 26, 2023, from Grid: https://www.grid.news/story/global/2022/07/26/chinas-economic-inequality-is-worse-than-americas-and-the-pandemic-hasnt -helped/
rosyidin, m. (2020). INTERNATIONAL RELATIONS THEORY FROM CLASSIC TO NON-WESTERN PERSPECTIVES. Depok: Rajawali Press.
Safitri, N. (2022, December Saturday, 17). CAPITALISM ECONOMIC SYSTEM. Retrieved January Monday, 16, 2023, from OSFPREPRINTS: https://osf.io/j8v4b
Shodiq, A. (2015). THE CONCEPT OF WELFARE IN ISLAM. journal of Islamic economics , 382.
Siripurapu, A. (2022, April 20). the US Inequality Debate . Retrieved February 25, 2023, from Council on Foreign relations: https://www.cfr.org/backgrounder/us-inequality-debate#:~:text=Income%20and%20wealth%20inequality%20is,slavery%20and%20racist %20economic%20policies.
Susanti, NE (nd). Capitalist Economic System. 1-3.
Utaminingsih, N. (2019). The Face of East Asian Food in the Covers of Neoliberalism Case Study: China. Review of International Realtions , 1-14.
Yang, D., Acharya, Y., & Liu, X. (2022). Social health Insecure Consolidation and Urban-Rural Inquality in Utilization and Financial Risk Protection in China. ELSEVIER Social Science and Medicine Vol 308 , 1-11.
Published
2023-12-30
How to Cite
Rimapradesi, Y., Putri, M. U., & Noveri, A. P. (2023). COMPARISON OF THE IMPACT OF THE IMPLEMENTATION OF THE CAPITALIST ECONOMIC SYSTEM ON COMMUNITY WELFARE BY THE UNITED STATES AND CHINA. Dinamika Global : Jurnal Ilmu Hubungan Internasional, 8(2), 213-232. https://doi.org/https://doi.org/10.36859/jdg.v8i2.1860