Question

explain how the systematic 'opening up' has helped China to achieve desired results of growth?

Answer 1

Well ,if you take a look at the policy- the GLF policy (Great Leap Forward ) a policy taken right after their independence in 1949 , it has really helped them to boost their economy . Since they had  a large population which was in the agriculture sector , they first focussed on that sector . They provided incentives for farmers and adopted the dual pricing policy ie. different prices for the public, farmers and companies . Then once they had ensured full growth in agriculture they shifted to the industrial sector.They introduced crucial reforms in the 1980's which can be conferred to as the turning point in their economic history which can be really compared to the 1991 reforms of the Indian economy . They then  went on a major foreign investment invitation spree and had opened up their economy in this way . So, you can look at the results - China is the world's largest economy in terms of GDP (ppp) [purchasing power parity].