1. Chinese Economy (Late 1970's to Present)
China has been a remarkably successful economy since its adaptation of market-oriented reforms in 1978. The country's real GDP growth has averaged about 9% each year from 1979 to the present (Naughton, 1995). Vietnam has also gone through a terrific economic development after the country's transition process from centrally-planned economy to a market economy and it also gone from a poor to a middle-income country in just 20 years. Over the past five decades, East Asia has emerged as a region with several spectacular stories (i.e. Hong Kong, Singapore, Taiwan) of catch-up development. Both Chin...
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- Approx Pages: 9
- Grade Level: Undergraduate