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Why Has China Grown So Fast For So Long?$
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Khalid Malik

Print publication date: 2012

Print ISBN-13: 9780198078838

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780198078838.001.0001

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A Short History of Chinese Reforms

A Short History of Chinese Reforms

Chapter:
(p.14) 2 A Short History of Chinese Reforms
Source:
Why Has China Grown So Fast For So Long?
Author(s):

Khalid Malik

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198078838.003.0003

This chapter describes the two major periods of reforms in China—the initial reforms (1978–92) and the period of deepened reforms (since 1993). After the chaotic phase of Cultural Revolution, extensive reforms were needed to push forward economic and social progress. Thus, powerful reforms were introduced, which led to phenomenal changes. Agricultural production, along with growth of light and consumer goods industries shot up. However, it suffered from many complexities and contradictions. These were eliminated in the second phase of the reforms. Market liberalization and decentralization were introduced in this period, keeping certain characteristics of a socialist economy intact. A significant reform in this period was the World Trade Organization accession, integrating China with the rest of the world, unlike ever before.

Keywords:   China, reforms, Cultural Revolution, collectivization, market economy, Deng Xiaoping, Mao, World Trade Organization, decentralization, privatization

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