question_answer

Explain any four steps taken by China that led to the rise of its economy.

Answer:

Four steps taken by China that led to the rise of the economy are:

(1) China provides best education and health to its people. Its economy also grew at a respectable rate of 5 - 6% but, with an annual growth of 2.3% in population meant that, economics growth was insufficient to meet the needs of a growing population.

(2) Regional Location: Regional location of China in very appropriate for business by silk route China in connected to whole Europe and can do business very easily.

(3) Political Influence: After the inception of the People Republic of China in 1949, following the communist revolution under the leadership of Mao. Its economy was based on the Soviet model. The economically backward communist, China, chose to share its' links with the capitalist world. It had little choice but to fall back on its own resources and for a brief period on soviet aid and advice. The model was to create a state owned heavy industries.

(4) Open Door Policy: By 1978 the leader Deng Xiaoping announced the open door policy and economic reforms in China. The policy was to generate higher productivity by the investment of capital and technology provided by foreign countries.