Question

In: Finance

Topic: Growth of China 1910-1950 (recovering from fall) Objective: How communist party united people (who were...

Topic: Growth of China 1910-1950 (recovering from fall)

Objective: How communist party united people (who were divided by that time due to the issues) and took china towards producing agricultural surplus again which had declined miserably

Solutions

Expert Solution

The Chinese reform and reform policy is started with the adoption of a new economic development strategy by the Chinese Communist Party. In the arly of 1900s China advanced in a number of industrial sectors and agricultural sector.Chinese agriculture by the Republic of China was almost completely go upwards and the production of cash crops for foreign consumption, and it leads to greater acceptability in international market. The rural economy face a Great Depression of the 1930s, in which an overproduction of agricultural goods lead to massive falling prices for China as well as an increase in foreign imports. At this moment they realised that producing more quantity of agricultural products will not leads to great profit for them but it will leads to depression for the economy. That is the time of second world war and the government occupied the large portion of industrial sector.At that time about the 70% of the industrial sector was under control of government. Lter it leads to greater advantage to the country and the government too. The peak in this sector made major revenue to the government at that time.This is how they face the decline from the agriculture and recovered through the industries.

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