China's Economic Development (Essay Sample)

New donor countries and development banks have recently arrived on the international development scene. How is the Chinese approach to development aid changing established modes of foreign aid for development? Is this an effective model?
Student Name:
Student ID:
Date:
INTRODUCTION
Development aid as widely referred to as foreign aid has been assistance by developed economies to developing and less developed economies in form of monetary or non-monetary transfers with a main aid for economic development (Brautigam, 2010). The inflows have been delivered inform of subsidies and at times inform of loans. The most common type is the official development assistance (ODA) program directed towards development and poverty reduction. Thus is given though loans, or channelled through international organisations like IMF, World Bank, and UN. There has been a lot of controversies on the best approach to this assistance since different persons have alleged that its importance is relevant, while others arguing that it is not needed.
There are people who have found that aid is not aimed at development but rather has led to increased conflicts in developing countries. In other cases it has been seen to actually slow developments in this countries (Pickbourn & Ndikumana, 2013). Other have alleged that well planned, it results to development and it has nothing to do with conflicts more so those occurring in Africa. As shown on the graph below, growth has been declining.
(Source: Bräutigam, 2011)
This creates a needs for assessment of how aid has been delivered in the past. Besides there is a need for evaluation of the model that has been adopted by China since most researchers recognise that china has a better approach to aid which has seen most developing economies emerge. This will thus lay a bases for the current analysis.