In 1979, China’s economy was one of the worst in the world, having enacted many diastrous collectivist projects throughout the 1960s and 70s and also having mainly isolated itself from the capitalist world. What events would suddenly and abruptly improved the Chinese economy and would cause it to thrive by the close of the 20th Century?
September 25th, 2009 at 9:20 pm
The Chinese opened their economy to the world and moved from a centrally planned economy to a free market economy. The used Special Economic Zones to promote investment and focussed on making exports to advanced economies.
More info here:
http://en.wikipedia.org/wiki/Economic_history_of_Modern_China
http://en.wikipedia.org/wiki/Economic_reform_in_the_People%27s_Republic_of_China
September 25th, 2009 at 9:20 pm
if you want to follow China’s current progress, this site is run by an ex-pat us businessman living in shanghai…http://community.marketwatch.com/groups/…