China Economic Development 2

China Economic Development Part II

In the late 1990s, China allowed several major state companies to go bankrupt for the first time under the Communist regime. The five-year plan 1996–2001 divided China into seven economic regions, each with several provinces. These will coordinate their common development, with the aim, among other things, of reducing greatly increasing differences between rich coastal […]

China Economic Development 1

China Economic Development Part I

Economical growth At the 14th party congress in 1992, the so-called second wave of reforms became more marked by capitalist means. The strategy for the 1990s was economic reform with still strict political control. Deng Xiaoping’s voyage to southern China in December 1992 is considered historic; Here he stated that the rapid development of the […]