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in Economics by (47.3k points)

China’s rapid industrial growth can be traced back to its reforms in 1978. Do you agree? Elucidate.

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Yes, China’s rapid industrial growth can be traced back to its reforms in agriculture and establishment of infrastructure in the areas of education and health, land reforms etc had been taking place with the introduction of “Great proletarian cultural Revolutionary” Mao during the year (1966 -67). China introduced reforms in phases after 1978.

In initial phase, reforms were initiated in agriculture, foreign trade and investment sectors, In later phase/reforms were initiated in the industrial sector. Private sector firms and township and village enterprises were allowed to produce goods. The reforms process also involve dual pricing.

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