They lagged behind the West, and were unprepared for the possible outbreak of war. ... However, due to certain governmental decisions and actions, catastrophic events occurred. Incorrect figures regarding agricultural output, and the elimination of private farming plots, led to one the worst events in China's recent history, the Great Famine, which lasted from 1959 through 1961. ... China had to be prepared for war at any given time. ... According to Lin (2003), China lacked three important factors, making it unsuitable for rapid economic growth at the time. ...

• Word Count: 1745
• Approx Pages: 7
• Has Bibliography
• Grade Level: Undergraduate

The political events of the 1990's make it clear that countries wanted a change from the set systems of capitalism, socialism and communism as they sought better systems and higher efficiency. ... It is important to understand that the economic system of a country is the summation of other political, environmental and social systems and the modern approach studies the impact of these other systems, which is definitely an improvement from solely studying the economic factors alone. ... Economic systems are characterized by many different attributes and it is important that we know all ...

• Word Count: 4711
• Approx Pages: 19
• Has Bibliography
• Grade Level: Undergraduate