Anonymous
Anonymous asked in Social ScienceEconomics · 9 years ago

Has China been able to transfer from a Communist economy to a capitalist economy successfully?

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  • Anonymous
    9 years ago
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    It has been 70 years after Mao died.Now it is not a transition economy anymore. But it ranked 2nd in the world in term s of the size of GDP. And if everything will go on as expected,it will surpass the US in 2016.It will be the first biggest economy in the world which is still a developing country because of GDP per capita is very low.

  • 9 years ago

    China pays 0.5 trillion $ as debt to USA alone. Total outlay could be 2 trillion $.

    China is a strong communist country which found way into the world market by pretending to be capitalist.

    All Chinese firms are state owned. people happily work for 10-12 hrs. a day. China sells cheap, so has double whammy in profit making. So, GDP >10%.

    USA and Europe cannot digest this for a communist country, so they eat the sour pie calling China " trasitional ".

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