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China has become the second largest economy in the world, surpassing the United States in 2020-2021 with a GDP of $19.91 trillion in 2022. Mao Zedong's economic policies from 1949-1976 led to massive failure, poverty, and famine until Deng Xiaoping reversed policies and introduced reforms in 1976 that spurred China's economic growth in the 1990s, including improving national planning, transforming economic patterns, maintaining price stability, and promoting private sector involvement. China's focus on skilled labor training, vocational education, and cluster development helped fuel economic growth as it invested in its workforce of 950 million to become the world's factory.
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Population Control in China and India/ Econ. Rise of Asia
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People’s Republic of China which was founded in 1949 was in the position of a self-enclosed economy. Together with the economic reforms carried out in 1980s, China has entered into a transition period from socialist system to free market economy. Together with these reforms, China became a member of IMF in 1989 and World Trade Organization in 2001. As a result of these international expansion policies, the country takes the attention with its high growing rates and becomes the focus of the international capital. Especially after the country became a member in World Trade Organization in 2001, foreign trade volume has expanded and foreign direct investment flow is increased. Foreign trade reforms in China are analyzed in this study because of the outstanding growth in Chinese trade in recent years.
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Isabella .pdf
- 1. China: rise in the world
- 2. Introduction ∙ China is second largest economy in the world ∙ China GDP is 19.91 trillion USD in 2022 ∙ in 2020-21 surpassed the United States becoming the wealthiest nation in the world 2
- 3. HISTORY OF CHINA 3 Mao Zedong 1949-1976 Mao zedong economics policies were massive failure Due to Great leap policy, poverty and massive famine lead To destruction of china’s economy. Rebels were formed and people started to protest, to limit those protest Mao started ‘’cultural revolution’’ under this revolution , many political leaders and protesters were executed
- 4. The rise of dengs Xiaoping 4 Deng Xiaoping 1976-1997 After Deng Xiaoping came into power he reversed the policies of Mao Zedong and introduced new reforms in china his reforms were the main reason for china’s economic growth in 1990s
- 5. The Reforms of 1990s ❏ Improvement of national planning system . ❏ Transforming the economic growth pattern ❏ New macroeconomics policy 5 ❏ Improvement in market competition ❏ Promote private sector involvement ❏ Maintain price stability for a solid foundation
- 6. 3 key point helped China's economic growth Skilled labour Vocational training Cluster development . 6
- 7. THE GROWTH OF CHINA 7 China focused on its economy and more on its people Chinese government told other countries to invest in china whereas china invest on its people With 95 crore workforce china become world’s factory
- 8. The end. 8