A Historical Background of China’s Economy and Lessons from Its Globalization

Elias C. Grivoyannis

Chapter 1 in The New Chinese Economy, 2012, pp 1-25 from Palgrave Macmillan

Abstract: Abstract In 1978, a reform and opening-up policy was introduced in the People’s Republic of China (PRC) known as “Gaige Kaifang.” This policy had a tremendous impact on China’s output growth and volume of trade with the rest of the world. Twenty-three years later, China’s openness to the world economy was officially recognized by its entry to the World Trade Organization (WTO) in 2001. These were the beginnings of the new Chinese economy that have since had significant economic implications for the rest of the world.

Keywords: Foreign Direct Investment; Total Factor Productivity; World Trade Organization; Special Economic Zone; Domestic Saving (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-01204-3_1

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DOI: 10.1057/9781137012043_1

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