1. China's Unnatural Development Strategy
... strategy. In the first Five Year Plan, industrial output expanded annually by about 18.7%, and national income grew at an average of 8.9% annually (Lardy, 1987). Contradicting Characteristics China's leaders at the time believed that following a heavy-industry oriented development strategy would lead to elimination of poverty and would aid them in catching up with the West. Unfortunately, ... West and the Soviet Union, may have made heavy-industry seem like the only possible step in order to achieve rapid economic growth. However, when viewing the circumstances around China's beginning o...
- Word Count: 1745
- Approx Pages: 7
- Has Bibliography
- Grade Level: Undergraduate