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70 Years of Social and Economic Development in the PRC (1949–2019)
 
PIIS013128120007128-1-1
DOI10.31857/S013128120007128-1
Publication type Article
Status Published
Authors
Andrew Ostrovskiy 
Affiliation: IFES RAS
Address: Russian Federation, Moscow
Journal nameProblemy Dalnego Vostoka
EditionIssue 5(1)
Pages55-72
Abstract

The article is devoted to social and economic developments in the PRC during 70 years (1949–2019). The author analyses the results of social and economic development in China, determines two stages of it: 1) 1949–1978 – command and administrative planned economy; 2) 1979–2019 – economic reform. The period of transition from planned to market economy consists of four stages: 1) 1979–1984: 2) 1984–1991; 3) 1992–2003; 4) 2003 – till now. The great successes of economic reform in China are expressed in high growth rates of GDP and promotion of population living standard. Meanwhile at that period China’s role in the world economy increased immensely due to the GDP and foreign trade volumes high growth and development of investment cooperation. The successes of Chinese economy for 40 years proved vital capacity of the economy transition model which incorporates larger state regulation and considerable investment programs for China’s economic development.

Keywordsthe PRC, gross domestic product (GDP), population living standard, planned economy, population, economic reform, social and economic development, transition to market economy
Received30.11.2019
Publication date05.12.2019
Number of characters64094
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