Abstract: China had been a typical autarkic society for a long time before it was forced to open up to the outside world at the end of the First Opium War (1840–42).2 Since then, the Chinese economy has been transformed as a result of the destruction of feudalism. Foreign capital inflowed gradually into the mainland, followed by the penetration of Western culture, representing the first signal for Chinese industrialization. Unfortunately, because of the long civil wars as well as the Japanese invasion, Chinese economic construction had not been given priority in the first half of the twentieth century. During the First FYP period (1953–57), some economic progress was achieved. Thereafter, however, difficulties took place due to China's frequent domestic political struggles and fluctuating diplomatic relations with the capitalist bloc and then the socialist bloc.KeywordsForeign InvestmentForeign TradeForeign CapitalChinese EconomyTrade SurplusThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Publication Year: 1999
Publication Date: 1999-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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