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Important Years of China's Development

 

1949 People's Republic of China was formed in 1949

All Critical Sectors of Govt, Land and Enterprises were brought under Govt Control

 

1958 Great Leap Forward(GLF) Campaign was Launched

Industrialization of the country was started on large scale

People were asked to set up factories in their backyards

In Rural Areas, Commune System was launched where people collectively culltivated lands

GLF Campaign faced a lot of problems due to drought which killed 39 million people

There were conflict with Russia.

During these confict, Russia withdrew its professionals which were sent to China to help in industrialisation process

 

1966-76 "Great Proletarian Cultural Revolution"

During this period, Students and professionals were sent to countryside(villages) to learn and work

 

1978 Economic Reforms were Launched

In initial stages, Reforms were in Agriculture, Foreign Trade and Investment Sectors

 

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Major Reforms undertaken in 1978

Reforms in Agriculture

Commune lands were divided and allocated to individual households for use

However, ownership remain with government

These farm owners were allowed to keep all profit after paying taxes to govt.

 

Reforms in Private Sector

Private Sector was allowed to produce goods and compete with Public Sector Enterprises (called SOE-State Owned Enterprises)

 

Dual Pricing

Agriculture and private Sector had to buy and sell goods at 2 Prices

A certain fixed Quantity at Govt determined Prices

Balance Quantity at Market Prices

Note

In earlier years, production was more at Govt prices

In later years, as production increased, goods at market determined prices increased

 

Reforms in Investment Sector

Govt Promoted foreign investment by allowing Special Economic Zones(SEZ) to be set up

Govt gave tax concessions to foreign companies who established there units in these SEZ

 

Investment in Infrastructure

Massive Investment in Infrastructure was undertaken like Building of roads, bridges, electricity supply, new cities, extension of basic health services

These not only provided jobs but also boosted the industrial sector

 

 

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Comparison-India vs China Development Policies

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NCERT Questions

Question 4

Explain the Great Leap Forward campaign of China as initiated in 1958.

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Question 5

China’s rapid industrial growth can be traced back to its reforms in 1978.

Do you agree?

Elucidate.

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Question 7

What is the important implication of the ‘one child norm’ in China?

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Question 12

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

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Transcript

Reforms In China Great Leap Forward Reforms of 1958 Commune System was Launched People collectively Cultivated Lands Income from Farming went to Govt) All Major Sectors with Government State Owned Enterprises did not face any completion from private sectors) 1978 Reforms of China Commune land divided into Small Plots (These were allocated for use to individual households) Income from Farming went to Individual households after paying applicable taxes Private Sector firms allowed State Owned Enterprises faced competition Reforms In China Great Leap Forward Reforms of 1958 Price Fixed by Govt Govt had complete control over fixing of prices of different goods (both industrial and agricultural) 1978 Reforms Dual Pricing Certain Fixed Quantity of inputs and outputs were purchased and sold at prices fixed by govt Remaining quantity at price determined by market Later when production increased, goods sold at price determined by market as increased Reforms In China Great Leap Forward Reforms of 1958 Foreign Investment Not allowed China was a closed economy and there was very little foreign investment Less focus on Infrastructure Not much development in Roads, Electricity supply et) 1978 Reforms Foreign Investment Encouraged Govt set up SEZ (Special Economics Zone) where tax concessions were given to foreign investors Large Scale Infrastructure Development Massive Investment in Infrastructure was undertaken like Building of roads,bridges,electriocity supply, new cities ,extension of basic health services Important Dates - China Economic Development 1949 China got Independence (People's Republic of China formed) 1958 Great Leap Forward(GLF) Campaign was Launched (Commune System in Villages, All major sectors with Private Sector) Great Leap Forward(GLF) Campaign was Launched (Commune System in Villages, All major sectors with Private Sector) 1966-76 Great Proletarian Cultural Revolution During this period, Students and professionals were sent to countryside(villages) to learn and work 1978 Major Reforms in Agriculture, Industry and Infrastructure Commune land divided, Dual Pricing Launched Improvement in infrastructure, Foreign Investment encouraged through SEZ) Independence 5 Year Plans Who Owned Land Agriculture Reforms in Agriculture Industry Reforms in Industry India1947 Started 1951 Private Sector Small Farmers owned small prices of land Green Revolution (1960'S) Public Sector Undertakings run large Industries Private Sector operated small business 1991 Reforms (Policy of Liberalization, Globalization, Privatization) China 1949 Started 1953 Government Commune System and collective Farming 1978 Reforms, Commune land divided and allocated to Small Households) Earlier, Only Govt Sector run major sectors Later in 1978, Private Sector also allowed 1978 Reforms (Dual Pricing, Foreign Investment allowed, Infrastructure Improvement)

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Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.