International Business -China
1.0 Introduction of Economics in China
Before the Chinese Communists Party (CCP) came to China to gain the power control of the country, the economics of China was mainly based on agriculture for many centuries. The economy of China could not be separated from Mao. Mao was the chairman of CCP in China from the year 1943 to 1976. Mao was calles as Chairman Mao or The Great Leader Chairman Mao. During the Mao period, most of the Chinese citizens were poor people except for the political elite people in China. During the Mao era, China economics was mainly emphasized on the heavy industry. The success of the heavy industries in china was measured on the quantity of the steels that have been produced and the barrel of the oil that was pumped from the ground. The first Five Year Plan in China was developed from the year 1953. The Five Year Plans was developed to help sustaining the economics of China initially. Mao then continued to sustain the economy with ‘The Hundred Flowers Campaign’ during the year 1957. During the Hundred Flowers Campaign, Mao indicated to received and considered different opinions on how China should be governed. Many liberal and intellectual Chinese began to questioning and opposing the leadership of Mao. After the Hundred Flowers Campaign, it then moved on to the ‘Great Leap Forward” from 1958 to 1959’ which was the Second Five Year Plan. Great Leap Forward Plan was created to increase the production of the industrial and agricultural industries. Great Leap Forward Plan was an alternative plan for economic growth focusing on the heavy industries. Great Leap Forward Plan has not proved to be a successful as planned. The number of starvation of the citizens has increased. However, the plan then changed again at the year 1966, to the new plan that was called as ‘Great Proletarian Cultural Revolution’ that only lasts until the year 1976. These plans were unrealistic as it brings the economics of China to the disaster. The reforming of the
Before the Chinese Communists Party (CCP) came to China to gain the power control of the country, the economics of China was mainly based on agriculture for many centuries. The economy of China could not be separated from Mao. Mao was the chairman of CCP in China from the year 1943 to 1976. Mao was calles as Chairman Mao or The Great Leader Chairman Mao. During the Mao period, most of the Chinese citizens were poor people except for the political elite people in China. During the Mao era, China economics was mainly emphasized on the heavy industry. The success of the heavy industries in china was measured on the quantity of the steels that have been produced and the barrel of the oil that was pumped from the ground. The first Five Year Plan in China was developed from the year 1953. The Five Year Plans was developed to help sustaining the economics of China initially. Mao then continued to sustain the economy with ‘The Hundred Flowers Campaign’ during the year 1957. During the Hundred Flowers Campaign, Mao indicated to received and considered different opinions on how China should be governed. Many liberal and intellectual Chinese began to questioning and opposing the leadership of Mao. After the Hundred Flowers Campaign, it then moved on to the ‘Great Leap Forward” from 1958 to 1959’ which was the Second Five Year Plan. Great Leap Forward Plan was created to increase the production of the industrial and agricultural industries. Great Leap Forward Plan was an alternative plan for economic growth focusing on the heavy industries. Great Leap Forward Plan has not proved to be a successful as planned. The number of starvation of the citizens has increased. However, the plan then changed again at the year 1966, to the new plan that was called as ‘Great Proletarian Cultural Revolution’ that only lasts until the year 1976. These plans were unrealistic as it brings the economics of China to the disaster. The reforming of the
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