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A Historical Background of China’s Economy and Lessons from Its Globalization

In: The New Chinese Economy

Author

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  • Elias C. Grivoyannis

Abstract

In 1978, a reform and opening-up policy was introduced in the People’s Republic of China (PRC) known as “Gaige Kaifang.” This policy had a tremendous impact on China’s output growth and volume of trade with the rest of the world. Twenty-three years later, China’s openness to the world economy was officially recognized by its entry to the World Trade Organization (WTO) in 2001. These were the beginnings of the new Chinese economy that have since had significant economic implications for the rest of the world.

Suggested Citation

  • Elias C. Grivoyannis, 2012. "A Historical Background of China’s Economy and Lessons from Its Globalization," Palgrave Macmillan Books, in: Elias C. Grivoyannis (ed.), The New Chinese Economy, chapter 1, pages 1-25, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-01204-3_1
    DOI: 10.1057/9781137012043_1
    as

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