China as a Latecomer in World
With annual rates of growth in economic output and foreign trade that averaged nearly 10 and 16 percent, respectively, from 1978 to 2000, China's economic performance has in many ways become the envy of the developing world.1 Although the creation of wealth has been most pronounced in coastal areas, the number of Chinese living in absolute poverty nationwide has been reduced by more than 200 million during the reform era.2 While improvements in political life have been less signal, China has experienced a rise in material living standards that is, by most measures, unprecedented in the history of human civilization. According to the World Bank, China achieved the fastest doubling of economic output ever from 1978 to 1987, far outpacing both early industrializers (e.g., United Kingdom, United States, and Japan) and late industrializers (e.g., Brazil, South Korea, and Taiwan) alike. It then repeated the feat from 1987–1996.3 While economic disparities have____________________
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Publication information: Book title: China in the World Market: Chinese Industry and International Sources of Reform in the Post-Mao Era. Contributors: Thomas G. Moore - Author. Publisher: Cambridge University Press. Place of publication: Cambridge, England. Publication year: 2002. Page number: 1.
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