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The S ocialist Era (1949-1978 )

The S ocialist Era (1949-1978 ). Mapping Business Opportunities in China. Capitalism and Socialism Crash Course World History #33 Video 1 4 min. The main focus of socialist government. BIG PUSH development : All investment into rapid industrialization (factories)

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The S ocialist Era (1949-1978 )

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  1. The SocialistEra (1949-1978) MappingBusiness Opportunities in China

  2. Capitalism and Socialism Crash Course World History #33Video 14min

  3. Themainfocusofsocialistgovernment • BIG PUSH development: • All investment into rapid industrialization (factories) • High level of GDP generated from investment (GLF44%) • Focus on the industries up-stream of the value Change (x to Taiwan, Hong kong – downstream) • At the beginning the Big Push seemed to be working

  4. DifferencesbetweenChinese and Sovietsocialism • Planningless thorough (600 commodities vs.60 000 commodities). X • BUT political control much tighter.

  5. How did China manage to channel resources to where it waned ? • Command economy! • Howdo you get money from people and spend it on building factories?

  6. Phasesofsocialisteconomicrevolution • Economic recovery (1949-1952) • First Five-Year Plan (1953-1956) • Hundred Flowers (1956-1957) • Great Leap Forward (1958-1960) • Readjustment (1961-1963) • New expansion (1964-1966) • Cultural Revolution (1967-1969) • A new leap (1970) • Consolidation (1972-1976) • The leap Outward 1978 • 1978 an onwards – return of Deng Xiaoping and opening up

  7. Letsseethe video! Investment levels

  8. Socialist period in short • System that maximized flow of resources into industrialization and ignoredcompetitiveadvantageofChina (Whatisthat?) • But every time the system began to accelerate, it ran into fundamental problems.Whatproblems? • Results? • CCP lost fait in Soviet model of communism (experimenting with market) • Since Mao was already dad, the failures could have been blamed on him and Gang of four

  9. Good things about socialist era? • High investment in basic human capitals (good healthcare, education).

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