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Economic Development Strategies of China after WWII - Essay Example

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China is currently regarded as one of the economic superpowers as it has not only optimally developed the economic status of its people, but is also playing a strong influencing role in the global economy. “Nowadays China is one of the worlds top exporters and is attracting…
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Economic Development Strategies of China after WWII
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Download file to see previous pages Deng did not held office as the China’s President or head of state, Premier, or even as the General Secretary or as the leader of the Communist Party, but still he is regarded as the “paramount leader” of the Peoples Republic of China mainly because of his far-reaching and successful economic reforms, which only transformed China to the current superpower status. So, when China’s developmental strategies after World War II are focused, it naturally refers to Deng’s economic reforms and the related developmental strategies. Considering this fact, the discussion will about how Deng’s reforms and developmental strategies, particularly his strategies to introduce foreign investment and technology into China’s economy, giving autonomy to state-owned enterprises, and the establishment of Special Economic Zones (SEZ) led to China’s optimum economic development.
Deng came into the picture in the late 1970s when the patriarch of the Chinese Communist movement, Mao Zedong passed away in 1976 and importantly China was under a very pitiable economic condition. That is, under Mao regime, China following the footsteps of the erstwhile Soviet Union mainly developed many heavy industries, without diversification. This strategy provided little benefits for the average Chinese and even the normal consumer goods were scarcely available. So, “there was a prevailing sense among Chinas leaders that the economy was in crisis, and unless something drastic was done to improve human welfare, the survival of the regime itself was at risk” (Schuman 127). However, the leaders following Mao’s ideology wanted to continue the same economic strategy laced with Communist principles. On the other hand, Deng wanted to take the Chinese economy in an all-new direction. Instead of tinkering with the existing communist economic system, Deng wanted to launch ...Download file to see next pagesRead More
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