Introduction: China—Challenges of the Great Transition

Bhabani Shankar Nayak ()
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Bhabani Shankar Nayak: University for the Creative Arts

Chapter Chapter 1 in China: The Great Transition, 2023, pp 1-7 from Springer

Abstract: Abstract The great transition of China from a subsistence agrarian economy to a technologically driven economic powerhouse reflects the achievements of the hardworking Chinese people. China continues to grow as the second largest economy of the world from 2010 onwards. It is going to be the largest economy in the world by putting US economy behind. The Chinese GDP has increased of 1,500 times from 1952. The transformation of China and its economic growth is neither miraculous nor a product of market economy. The economic development in China is a product of political pursuit shaped by the Chinese people led by the Communist Party of China from 1921 onwards.

Date: 2023
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DOI: 10.1007/978-981-99-0051-0_1

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