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Asked by Pradeep Last Modified
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Yes, China's rapid industrialization is the result of several economic reforms implemented in stages since 1978. Agriculture, foreign trade, and investment reforms were all started in the first phase.
Land was divided into tiny pieces and allotted to individual families under the consumer system of collective farming. After paying taxes to the government, these households were allowed to keep the remainder of their land revenue.
Reforms in the industrial sector were started later. During this time, private companies were allowed to produce goods and services and compete with government-owned businesses.
Dual pricing was a part of the changes.
Farmers and industrial units were forced to acquire and sell a predetermined number of inputs and output at a government-determined price, with the remainder quantities exchanged at market prices.
Gradually, as aggregate output rose rapidly in later years, the market amounts sold multiplied several times.To attract foreign companies, the reforms included the establishment of special economic zones.
As a result, China's rapid industrial expansion can be attributed to the success of several phases of the country's economic reforms.
read lessYes, China's rapid industrial growth can be traced back to its reforms in 1978 because reforms in agriculture and establishment of infrastructure in the areas of education and health, land reforms etc. had been taking place with the introduction of "Great Proletarian Cultural Revolutionary" Mao during the year (1966-67)
read lessYes, China's Rapid Growth can be traced back to its reform and agriculture and estavlishmetn of infrastrcture in the areas of education and healt, land reforms etc had been taking place with the Introduction of Proletarian cultural revolutionary Mao during the year (1966-67). China introduced reforms in phases after 1978.
In intial phase reforms were initiated in agricultural, foreign trade, investment and In the later phases in industrial sector. Private sector firms and township and village enterprises were allowed to produce goods. The reform process also involves dual pricing.
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es, China's rapid industrial growth can be traced back to its reforms in 1978 because reforms in agriculture and establishment of infrastructure in the areas of education and health, land reforms etc. had been taking place with the introduction of "Great Proletarian Cultural Revolutionary" Mao during the year (1966-67).
read less
Yes, China's rapid industrial growth can be traced back to its reform in 1978 because reforms in agriculture in establishment of infrastructure in the areas of education and health land reforms had been taking place with the introduction of green proletarian cultural revolution ariy during the year 1966 - 67 .China introduced reforms in phases after 1978 in the initial phase reforms were initiated in agriculture foreign trade and investment sectors in the later phase reforms were initiated in the industrial sector private sector forms and township and village enterprises were allowed to produce goods the reform process was also involve dual pricing.
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