Economic growth in the Far East

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Since the introduction of its economic reform and liberalisation policies in the late 1970s, China has operated as a 'socialist market economy'. The result has been huge growth rates and a massive increase in foreign investments. However, growth and wealth are developing at different rates in different parts of the country: the economic structures in many rural areas have hardly changed for decades. By contrast, rapid progress is being made in the country’s conurbations.

 

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