ABSTRACT
Since Deng Xiaoping, the late leader of the Communist Party of China, launched his “Reform and Opening” program in 1978, China’s economy has grown between 4% (in 1989) and 15% (in 1984) per year, and by 2010, China had replaced Japan to become the world’s second largest economy in terms of purchasing power parity (PPP) and nominal GDP* (The World Bank 2012a).
