The Economy of Communist China

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China was once the wealthiest in the world and now it was struggling to feed itself, it was these kinds of conditions that gave rise to the political system that would go on to define china in the latter half of the twentieth century.

The nation boasted this wealth for a majority of the last millennia only ever trading places with India, another nation that flies under the radar in recorded history. It even achieved and maintained a level of wealth beyond the typical colonial powers like England, France, and the Netherlands that we typically associate with world domination in this period and it did it through good old fashioned grunt.

In this video, we'll explore how it all went wrong in the 20th century.

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📚 Want to learn more about the economy of China? We recommend reading "China's Economy: What Everyone Needs to Know", by Arthur Kroeber
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#China #Communism #Economics

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Sources & Citations -

Nee, V., 1992. Organizational dynamics of market transition: Hybrid forms, property rights, and mixed economy in China. Administrative science quarterly

Chai, J.C., 1998. China: Transition to a market economy. OUP Catalogue

The annual data of China's GDP published on China NBS: National data – annual – national accounts – Cross Domestic Product Archived 14 June 2018

Chi-Yun, C.H.E.N., 2005. Han Dynasty China: Economy, Society, and State Power--A Review of Cho-Yun Hsu, Han Agriculture: The Formation of Early Chinese Agrarian Economy

Cheung, Y.W., Lai, K.S., and Bergman, M., 2004. Dissecting the PPP puzzle: the unconventional roles of nominal exchange rate and price adjustments. Journal of International Economics

Schurmann, F., 1973. Ideology and organization in communist China. Univ of California Press

Chang, J.K., 1969. Industrial Development in Pre-Communist China: A Quantitative Analysis. Aldine Publishing Company

Peng, X., 1987. of the Great Leap Forward in China’s Provinces. Population and development review

Li, W., and Yang, D.T., 2005. The great leap forward: Anatomy of a central planning disaster. Journal of Political Economy

Bachman, D., and Bachman, D.M., 2006. Bureaucracy, economy, and leadership in China: The institutional origins of the Great Leap Forward. Cambridge University Press

Chen, Y., 2009. Cold War competition and food production in China, 1957-1962. Agricultural history

Music: Chinese Pop Songs Piano ~ Relaxing Piano Music - youtube.com/watch?v=w2X1dtPScpI

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Видео The Economy of Communist China канала Economics Explained