As globalization these days is thriving and therefore markets converging it is vital to understand the development of different involved countries from the present perspective as well as the retrospective. That is why fruitful future progresses can possibly only be foreseen through the knowledge of former times. As this topic is too extensive the elaboration will start with a brief historical review of the Era of Reconstruction mainly influenced by Deng Xiaoping beginning in 1976.
Not much attention will be paid to the Mao Zedong Era including the Great Leap Forward which is regarded as the first try to transform China mainland from a primary agrarian economy into a modern and industrialized country. Rather the Era of Reconstruction under Deng Xiaoping and its partial economical opening-up process towards the rest of the World and especially towards the United States in the beginning will be taken into consideration.
As China currently is on the brink of transformation from an elongated workbench as an emerging country to an advanced country it is essential to foresee the further development of the potential China of tomorrow by applying the knowledge from the last decades. The investigation of former economical achievements and upcoming challenges of China’s economy will be consulted to find a proper conclusion for the recent development.
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