China Transforms Its Economy Flashcards
1978
China began moving from centrally planned economy to a more market orientated system
Who was in control
Xiaoping
What did xiaoping help do
Bring to an end the relative economic isolation of the country by encouraging foreign investment that would lead to an increase in exports, as had been the case in other East Asian countries
What happened to agricultural output in the 1980s
Farmers were encouraged to make profits for themselves
What else was established
Special economic zones (SEZs) where foreign companies were encouraged to set up manufacturing plants in return for preferable tax rates.
How many open cities
14 costal- offers incentives for companies to invest
Since the early 1990s how much real per capita growth has there been
More than 8% a year
How much did china receive per year in inward investment
$50 billion
When did china join the WTO
2001
