Q6. Name the regions of the world that conducted trade with China in its
early history. What were the main exports of China?
Answers
Trade is a key factor of the economy of China. The last 256 years that followed after the Communist takeover in 1949, China's trade institutions developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms was adopted by the government to develop a socialist market economy. This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free market, s in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
In 2013 China surpassed the United States as the largest trading nation in the world and plays a vital role in international trade,[1] and has increasingly engaged in trade organizations and treaties in recent years. China became a member of the World Trade Organization in 2001.[2] China also has free trade agreements with several nations, including China–Australia Free Trade Agreement, China–South Korea Free Trade Agreement, ASEAN–China Free Trade Area, Switzerland and Pakistan.[3]
Agriculture Edit
Approximately 63 percent of the population was located in rural areas, where the majority of people worked in agriculture and rural industries. Under the responsibility system for agriculture instituted in 1981, the household replaced the production team as the basic production unit. Families contracted with the economic collective to farm a plot of land, delivered a set amount of grain or other produce and the agricultural tax to the state, and paid a fee to the collective. After meeting these obligations, the household was free to retain its surplus produce or sell it on free markets. Restrictions on private plots and household sideline production were lifted, and much of the produce from these were also sold on free markets.
Distribution of food and other agricultural goods to urban consumers, industry and rural areas deficient in food was carried out primarily by the state and secondarily by producers or cooperatives. The state procured agricultural goods by means of taxes in kind and by purchases by state commercial departments (state trading companies) under the Ministry of Commerce. The agricultural tax was not large, falling from 12 percent of the total value of agricultural output in 1952 to 5 percent in 1979.
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Answer:
India,Mangolia,Russia, Pakistan