China's Economic Growth

came into power after Mao died

came up with an idea

you eat everything that you produce
any surplus you can sell.

wanted to end China's confinement and
want China's industry to grow

set up many SEZs (Special Economic Zones).

1944-80

free from tax

set in 4 places at first

Guangdong

Shanghai

Fujian

Hainan

Attracts foreign investments

Socialist way of thinking that there should not be any social classes or states

Common ownership

everyone has a right to own any tool used to produce goods

No private property

Goal :to manage the economy democratically

late 1940s

Started in China by Chairman Mao Zendong

controlled foreign investments so that China
could get the best benefit

hosted the 2008 Beijing Olympics

encourages further foreign investment

Good connections with ports all over the world

generates two thirds of its electricity
in coal stations

China produces more HEP than anyone
in the world.

generates 22,500 MW

1979 - increase of consumable income
demand for electrical household goods,
air conditioners, cars and computers.

makes 60% of the world bicycles

Cheap wages

High demand for jobs

Massive Population - 1.3 billion

95% cheaper than USA

few trade unions

fewer strikes

4th largest in the world

overtook UK in 2005

Urban per capita income :£600 in 2001

GDP exponential growth:
67.9 billion in 1952
18292.1 billions in 2005