1. GNP Growth Rates
The authorities have switched to a system of household and village responsibility in agriculture rather than the old collectivization, increased the authority of local officials and plant managers in industry, permitted a wide variety of small scale enterprise and smaller manufacturing, and opened the economy to foreign trade and investment. ... Agriculture and industry have reported major earnings, especially in coastal areas near Hong Kong, where foreign investment has helped promote output of both domestic and export goods. ... Government controls have been reduced on imports and foreign in...
- Word Count: 648
- Approx Pages: 3
- Grade Level: Undergraduate