ABSTRACT
This chapter addresses China's economic transformation from 1978 to 1990, and evaluates these economic reforms against the backdrop of China's Gross Domestic Product growth from 1952 to 2015. The economic reforms that began in 1978 involved a two-part effort. Obviously, the first part originated in the 1970s and ended in the 1980s. The second part of China's economic transformation occurred between the 1980s and the 1990s. In the 16th century, the Chinese economy was among the most sophisticated and productive in the world, and Chinese citizens probably enjoyed a much higher standard of living than the rest of its global counterparts. China's Cultural Revolution is the subject of a completely different book, but it should be noted that Mao Zedong’s Cultural Revolution was his way of keeping the 1948 Chinese Communist Revolution alive. Moreover, on January 1, 1979 the United States and the People's Republic of China established full diplomatic relations.
