Evaluate the various factors that led to the rapid growth in economic development in China

comparativedevelopm

#1

Answer Various factors that led to the rapid growth in economic development in China are as given below
(i) China initiated to implimented the economic reforms in 1978 without any compulsion by the World Bank and IMF.
(ii) China established infrastructure in the field of health and education that helped effectively in , improving the social and income indicators.
(iii) China implemented land reforms that increased the productivity.
(iv) There was long existence of decentralised planning.
(v) The size of individual enterprises was kept small.
All the factors mentioned above helped positively towards economic development.