Question

Discuss in brief the rise of china as an economic power.​

Answer 1

Answer:

"The best way to boost the economy is to redistribute wealth downward, as poorer people tend to spend a higher proportion of their income."

Explanation:

Here, we are discussing the world's 2nd largest and fastest growing economy. The  journey of a poor developing country to a major economic power in last 40 years has been spectacular.

As I quoted in the beginning, China has lifted more than 800 million people out of poverty,  $13.4 trillion economy in 2018.

China launched several economic reforms. The central government initiated price and ownership incentives for farmers,four special economic zones along the coast for the purpose of attracting foreign investment, boosting exports, and importing high technology products into China. Additional reforms, which followed in stages, sought to decentralize economic policy making in several sectors, especially trade. Economic control of various enterprises was given to provincial and local governments.