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Introduction: China—Challenges of the Great Transition

In: China: The Great Transition

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  • Bhabani Shankar Nayak

    (University for the Creative Arts)

Abstract

The great transition of China from a subsistence agrarian economy to a technologically driven economic powerhouse reflects the achievements of the hardworking Chinese people. China continues to grow as the second largest economy of the world from 2010 onwards. It is going to be the largest economy in the world by putting US economy behind. The Chinese GDP has increased of 1,500 times from 1952. The transformation of China and its economic growth is neither miraculous nor a product of market economy. The economic development in China is a product of political pursuit shaped by the Chinese people led by the Communist Party of China from 1921 onwards.

Suggested Citation

  • Bhabani Shankar Nayak, 2023. "Introduction: China—Challenges of the Great Transition," Springer Books, in: Bhabani Shankar Nayak (ed.), China: The Great Transition, chapter 0, pages 1-7, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-0051-0_1
    DOI: 10.1007/978-981-99-0051-0_1
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