1. Chinese Economy (Late 1970's to Present)
China has been a remarkably successful economy since its adaptation of market-oriented reforms in 1978. ... The transition strategy undertaken by China is termed a 'dual track'' reform path because there is both a planned and a market part of the economy. ... The shock-therapy approach was not desired by China, because of its radical reform programs, therefore the gradualist approach was more likely to be successful, due to China's under-developed and under-industrialized economy with a large rural surplus of labor force. ... Centrally planned economy was no longer viabl...
- Word Count: 2154
- Approx Pages: 9
- Grade Level: Undergraduate