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China’s economic expansion, also known as “the Opening Up of China”, and its ruling authorities seem to have a correlating relationship. When China is open to trade, it is most often successful economically.
Prior to the 19th century, China had one of the world’s largest and strongest economies. After a decline in the nineteenth century during the Qing Dynasty reign (due to internal conflict and the Opium Wars), China came back full force in the early 1930’s. Towards the mid 1900’s the Communist Party made reforms, or changes, to the economy in the forms of collectivism of agriculture, opening to trade and foreign investment with other nations, and allowing entrepreneurs to start businesses; contracting out state owned industry and lifting price controls. This has allowed for large success and modern growth into the modern-day.
China's economic progress, sometimes known as "the Opening The doors of China," and the country's ruling authority appear to be linked. When China is open to commerce, it is usually economically successful.
- China had one of the world's greatest and most powerful economies previous to the nineteenth century.
- Following a period of decline during the rule of the Qing Dynasty in the 19th century.
- In the mid-nineteenth century, the Communist Party implemented economic reforms such as agricultural collectivism, opening the economy to trade and foreign investment, letting entrepreneurs to start firms, contracting out government industry, and removing price restrictions.
This has led to significant success and new growth in the modern era.
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