Growth: Past, Present, and Future

Francis A. Lees
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Francis A. Lees: St John’s University

Chapter 5 in China Superpower, 1997, pp 57-71 from Palgrave Macmillan

Abstract: Abstract Over the period 1980–93 the People’s Republic of China achieved a 9 per cent average annual increase in real GNP (Table 5.1). This growth was made possible by China adopting a more liberal economic policy vis-à-vis its domestic economy and foreign trade with the rest of the world. High growth followed the shift away from former autarkic policies aimed at self-sufficiency, and toward increased interdependence with the world trading system based on international specialization in production.

Keywords: Foreign Trade; Capital Good; Output Ratio; Free Market Economy; Investment Ratio (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1057/9780230371699_5

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