China, BRICS Country Flashcards
(59 cards)
Who led China between 1949 and 1976?
Chairman Mao
Chairman Mao followed a strict form of communism.
What significant change occurred in China’s leadership in 1978?
Deng Xiaoping took leadership
Deng Xiaoping began a series of reforms that transformed China’s economy.
What was one of the main reasons for China’s economic growth?
Economic reform
Economic reforms were introduced under Deng Xiaoping from 1978 to 1992.
What were Special Economic Zones (SEZ)?
Areas with economic policies encouraging foreign investment and private ownership
Initially, there were five SEZs established in the late 1970s.
Name one of the first five Special Economic Zones established in China.
Shenzhen
Other SEZs included Shantou, Hong Kong, and Hainan.
What was the purpose of the Special Economic Zones?
To attract industrial development and foreign investment
SEZs charged low taxation rates and reduced import duties.
In what year did the Shanghai Stock Exchange reopen?
1989
This was the first time in 40 years that the exchange reopened.
What was a significant outcome of China’s accession to the World Trade Organisation (WTO)?
Established China as a major world economy
China joined the WTO in 2001.
What factor contributed to China’s attractiveness for multinational companies?
Large low wage labour supply
China’s large population and low wages maximized profits for multinationals.
How many people moved from rural areas to urban areas in China from 1990 to 2011?
250 million
Many rural migrants sought paid employment in SEZs.
True or False: Deng Xiaoping’s reforms included the encouragement of private ownership.
True
Private ownership was not permitted elsewhere in the country.
Fill in the blank: China’s economic growth is largely due to _______ and a large low wage labour supply.
Economic reform
What did local leaders in SEZs do that was at variance with Communist ideology?
Followed economic policies to attract foreign investment
This allowed for more flexibility in economic practices.
What kind of products did the SEZs concentrate on manufacturing?
Low cost products for export
This attracted many foreign companies for routine manufacturing.
What was one of the impacts of reopening the Shanghai Stock Exchange?
Enhanced China’s attractiveness to foreign investors
The provision of banking facilities improved investment conditions.
What percentage of the urban workforce in China was accounted for by rural migrants in 2013?
40%
What is the primary basis of China’s economic performance?
Export of goods assembled in China
Name one type of electronic equipment exported from China.
Mobile phones
What type of products do many leading high street retailers in MEDCs sell that are manufactured in China?
Clothes and shoes
Fill in the blank: China exports ‘______ goods’ such as washing machines and dishwashers.
white electrical
What agricultural products does China export?
Chemical fertilisers and other agricultural products
List two types of metals exported from China.
- Concrete
- Steel
What type of entertainment products does China manufacture for export?
Computer games and toys
What luxury vehicle brands are assembled in China?
- BMW
- Mercedes-Benz