China: Its Ascent as an Economic Powerhouse

Piya Mahtaney

Chapter 9 in India, China and Globalization, 2007, pp 83-96 from Palgrave Macmillan

Abstract: Abstract Communism premised its existence on utopian egalitarianism. Such idealism is wonderful in theory but its attempted enactment had rather turbulent and painful consequences for China. The immediate aftermath of communism in China was nearly not half as tempestuous as what ensued about a decade later. The advent of the Great Leap Forward (1958–60) and the Cultural Revolution (1966–77) unleashed a period of tumult and uncertainty that drove the country to catastrophic outcomes (even if one takes into account some of the gains that emanated from the Great Leap Forward).

Keywords: Economic Reform; Special Economic Zone; Fiscal Decentralization; Foreign Affiliate; Great Leap (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230591547_10

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