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Essay heading: effect of China and its revaluation of yuan
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Business |
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| Date added: |
October 14, 1996 |
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| No of pages / words: |
7 / 1683 |
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This is called "Socialism with Chinese characteristics" and is one type of mixed economy. To this end the authorities have switched to a system of household responsibility in agriculture in place of the old collectivization, increased the authority of local officials and plant managers in industry, permitted a wide variety of small-scale enterprise in services and light manufacturing, and opened the economy to increased foreign trade and foreign investment... displayed 300 characters
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The government has emphasized raising personal income and consumption and introducing new management systems to help increase productivity. The government also has focused on foreign trade as a major vehicle for economic growth. The result has been a quadrupling of GDP since 1978. As the result, today the economy of China is the second largest in the world as measured by purchasing power parity, with a GDP of US $8... displayed next 300 characters
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