China’s Economy

Destiny Hamilton

Type of economy

• China has a command economy, which means the government answers the three basic economic questions.

• They decide what should be produced.

• They run businesses and employs workers.

• The govt. also decides who receives products.

Economic Growth

• In the last 25 years there have been an 8% growth in the country’s GDP.

• The GDP reached 3.2 trillion US Dollars.

• It has the biggest economy after the US.

Economic Reforms

• Economic reforms started in the 70s and 80s.• The focus of economic reforms was on

collectivizing the agricultural activities.• In the 1980s, China tried to combine central

planning with market-oriented reforms to increase productivity, living standards, and technological quality without exacerbating inflation, unemployment, and budget deficit.