- China’s economy is now world’s 2nd largest – set to overtake the U.S. this century
- 695 million+ mobile internet users create new Chinese consumer
- Moxian, Inc. (NASDAQ: MOXC) platforms convert online users to retail customers
The roots of modern capitalist China are curiously and inexorably linked to the 1949 foundation of the People’s Republic of China by communist revolutionary Mao Zedong. In spite of horrific atrocities, Mao is still credited for modernizing China and building it into a world power as China’s population grew from around 550 million to over 900 million under his leadership. Mao seized control of China after a brutal civil war and held power until his death in 1976. Many of his socialist policies such as promoting the status of women, improving education and health care, and increasing life expectancy actually integrate and underpin today’s Chinese economic model. Since inception, the People’s Republic of China has surreptitiously and steadily embraced the tenets of capitalism, especially since economic reforms were enacted in 1978.
Succeeding Mao, Deng Xiaoping, a Communist Party veteran, was eager to adopt capitalist methods and reforms to try to stimulate economic growth and restore confidence in the party. Deng launched several economic reforms that allowed private sectors to start and operate their own businesses again. He also established four special economic zones along the coast of China with intentions of attracting foreign investments. Due to the reforms Deng put in place, China has gone from being a country that…
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