How Did The Cultural Revolution Affect Chinese Economy
As explained in part one, China was undergoing a big change known as the Cultural Revolution which caused serious ramifications to China's already poor economy. Unlike the Great Leap Forward, the Cultural Revolution was more of a political upheaval that did not produce any significant changes (for the better) in economic policies or the basic economic model. In fact, nearly all economic activities grinded to a halt during the 10 years (1966-1976) the revolution occurred. The revolution's influence rippled throughout chinese society and seriously affected the economy. Mao's experiment was like a dagger that pierced the heart of, and nearly killed, China's economy. After Mao Zedong's death in 1976, many reforms were implemented to hopefully fix
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You flip the switch and "turn it back on". The man to thank for this is Deng Xiaoping who came to power after Mao's death. He brought a new breed of socialist ideas to the table, combining China's socialist ideas with market economy policies as well as opening china up, a traditionally isolationist nation, to foreign investment and the global market turning China into an economic powerhouse which has been expanding rapidly for the past 35 years. China's ultimate goal during this time is to cause growth in its economy. For China to accomplish this it has to increase the consumption of its people, greater government expenditures, an increase in investments both internal and from overseas, as well as an increase in the amount of net exports. Deng proposed the Gaige Kaifang, which first started to mend the problems in the agricultural sector and little by little the nation transformed itself one tiny step at a time. Decentralization played a huge role in China's economic rebirth. This concept can be divided up into three aspects, administrative,fiscal, and industrial decentralization. China's recovering economy could be thought of as a series of small experiments carried out by small provincial and local authority groups to see if things worked out one way then doing them another way. If things worked out for that group then they would slowly spread throughout the nation. If they failed then there was no
You flip the switch and "turn it back on". The man to thank for this is Deng Xiaoping who came to power after Mao's death. He brought a new breed of socialist ideas to the table, combining China's socialist ideas with market economy policies as well as opening china up, a traditionally isolationist nation, to foreign investment and the global market turning China into an economic powerhouse which has been expanding rapidly for the past 35 years. China's ultimate goal during this time is to cause growth in its economy. For China to accomplish this it has to increase the consumption of its people, greater government expenditures, an increase in investments both internal and from overseas, as well as an increase in the amount of net exports. Deng proposed the Gaige Kaifang, which first started to mend the problems in the agricultural sector and little by little the nation transformed itself one tiny step at a time. Decentralization played a huge role in China's economic rebirth. This concept can be divided up into three aspects, administrative,fiscal, and industrial decentralization. China's recovering economy could be thought of as a series of small experiments carried out by small provincial and local authority groups to see if things worked out one way then doing them another way. If things worked out for that group then they would slowly spread throughout the nation. If they failed then there was no