How China Became an Economic Power

Over the past 40 years China has transformed into an economic power, rising from its previous position as one of the world's poorest countries. The Chinese economy today is the second largest in the world, behind only the USA, and continues to grow at a fast pace.

From the 1970s onwards successive Chinese leaders opened up the economy and moved the country towards becoming a developed nation. Whilst GDP and salaries have risen massively, this has also been accompanied by a huge increase in the quality of life of the average person and rising life expectancy, with millions of citizens being lifted out of poverty.

All of this combined has led to the popular perception of China as a rising power, a threat to US global dominance and perhaps the most important global consumer market today. China's path to becoming an economic power has inspired other developing nations around the world that want to emulate their success.

Видео How China Became an Economic Power канала Grey Swan