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The pace of economic change in China has been exceptionally rapid since the start of its economic reform in 1978 under the influence of Deng Xiaoping. Since then its Gross Domestic Product (GDP) has grown at an unprecedented 9.5 percent a year, making China’s the longest and most sustained growth experienced by any country within modern history. Such growth has been a result of various aspects, including a profound change within China’s economic policies, reform of the state-owned sector, and rapid growth of physical and human capitol. China also has the advantage of a good infrastructure, an educated workforce, and most importantly an extremely open economy. However, as the country’s economy rushes forward, so does the pile of social and economic contradictions threatening the future growth of China. To begin, China lacks a stable macroeconomic environment necessary for a strong medium-term growth, resultant of China’s fixed foreign exchange rate. China also runs the......
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Title: China's Industrialization
Approximate Word Count: 2842
Approximate Pages: 12 (250 words per double-spaced page)
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