The Open Door
A feature of transition‐era China was the opening‐up of the economy to foreign trade and foreign direct investment. Both factors played a role in the growth process, especially in Guangdong province. Nevertheless, it is shown in this chapter that Chinese growth was not export‐led; in purely quantitative terms, neither foreign trade nor investment was large enough in relation to the Chinese economy to explain growth. The very fact that growth accelerated across the whole of the People's Republic, whereas the impact of the open door strategy was confined almost exclusively to the south‐eastern provinces, demonstrates that internal factors were the prime mover in the growth process. Indeed, without heavy state investment in Shenzhen and other special economic zones, it is unlikely that even Guangdong could have grown so quickly.
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