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From famine to fortune: A timeline of China’s economic turnaround

29 8 4
18.12.2018

TODAY marks the 40th anniversary of the “reform and opening up” of communist China to outside economic forces.

President Xi Jinping honoured the occasion with a 90-minute address to Communist Party leaders at the Great Hall of the People in Beijing. Xi used his time to shore up confidence in his leadership and aggressively warn other countries that no one can “dictate” China’s economic development path.

His warning comes amid a mounting trade war between Beijing and Washington that is spooking investors and rattling stock markets. But this uncertainty hasn’t changed the fact that China remains an economic powerhouse and the world’s second-biggest economy. At the rate they’re going, it likely won’t take them long to knock the United States off the top spot.

But it wasn’t always like this.

SEE ALSO: Trade: G20 statements show US, China are on different pages

Less than 60 years ago, China was in the grip of a famine that would kill over 15 million people and put an end to Chairman Mao Zedong’s Great Leap Forward.

The landmark social and economic reform led by Mao’s communist party left China crippled.

Struggling to feed its people and with economic development slowing, the turnaround only........

© Asian Correspondent