China stands prominent as Asia’s largest landmass, surrounded by 14 Countries and a South China Sea merging with Pacific Ocean.
When did China surpass the biggies of economy like the Japan, U.K. EU and others, is quite unknown.
However, today it is the 2nd largest economy in the world. China enjoys being the World’s largest exporter and also in the 2nd largest importer of goods.
The “Factory of the World” manufactures almost everything that is needed for a daily living.
China has a robust business ecosystem of being a unitary authority for Government policies which are always in the interest of the Country’s progress.
Economic Development in China has its roots in the below main strategies :
Pushing industrialization and urbanization of over one billion people transformed a large number of the agricultural surplus labor in the countryside into urban employment in China. Between 1978 and 2015, the number of people in nonfarm jobs as a percentage of total employment increased from 29% to 70%.
Relatively equal distribution of land enabled the bottom poor to proportionally benefit not only from development and reform in agriculture but also from the transfer payments the state provided to support agricultural development.
China’s leader Deng Xiaoping kicked off the “reform and opening-up” campaign by focusing first on improving his nation’s dismal agricultural growth and allowed a return to family farming.
Introducing Education & skill Development, China prepared it human asset into manufacturing the World’s demands. “Food for Work” program has been a great success in drawing rural population in the cities for Manufacturing Units. China brought in the Infrastructure revolution and Cargo revolution hence making the whole Country “ready” for business, Foreign Trade.
It only takes a single point agenda, focused strategies and national gain to bring in Economic Supremacy.
China has been a winner with a singular high note since 1980s.