the Chinese economy has grown a great deal in the last 30 years why do you think this has happened?
Please give relevant answer i will mark you as brainliest and if it is irrelevant i will report you.
Answers
China's rise to be crowned as the world's second-largest economy today is the latest milestone in a boom that has been running almost constantly since the country began the long process of embracing free-market principles more than 30 years ago.
The Chinese economy has been growing at an average of almost 10% – three times the global average – since Deng Xiaoping became leader and started to introduce economic reforms. In dollar terms, its GDP has jumped from $147.3bn (£94.55bn) in 1978 to $4.9tn in 2009. Even if Japan's own economy hadn't faltered in recent months, China was expected to expand by another 10% this year so it was always likely to overtake its eastern neighbour before 2011. Some analysts argue that China is underestimating its own growth, and may be powering ahead even quicker than thought.
• The WTO has calculated that China became the world's biggest exporter in 2009, usurping Germany. This increased the pressure on China to revalue the yuan, a move it has proved reluctant to make.
• More cars are now made in China than any other country. In 2009, 13.79m vehicles were constructed in Chinese factories, comfortably exceeding Japan, with 7.93m, and the US, with 5.7m.
• China is also the biggest market for new cars. Sales of new passenger vehicles leapt by more than 50% last year, pushing up total sales to 13.64m. This saw it overtake the US, where sales fell by around a fifth to 10.43m.
• Last month China became the world's largest energy user, after its appetite for power more than doubled in the last decade. Most of the demand comes from the nation's huge manufacturing operations, but its population are also using more energy as their standards of living improve, and more of them buy computers, cars and domestic appliances. According to the International Energy Agency (IEA), China consumed the equivalent of 2,252m tons of oil in 2009. China has refused to accept this, claiming the IEA's data is unreliable and stressing that it has made strides in energy efficiency.
• China's energy consumption means it has taken another unwelcome title: the world's biggest emitter of carbon. It appears that China overtook the US in 2007, according to information collected for the Copenhagen summit
• … but it is also spending billions of dollars on renewable energy sources. Analysts believe it doubled its wind generation capacity from 12.1GW in 2008 to 25.1GW in 2009, making it the world's largest wind market.
Last year, the biggest economies were the United States, Japan, China, Germany, France, and the United Kingdom, in that order. By 2020, PWC believes the top six will read China, the US, India, Japan, Brazil, and Russia, with Germany in seventh place and the UK down in 10th.
China relaxed its strict communist economic policies after the pain caused by the Great Leap Forward – Mao's attempt to modernise China, which resulted in millions of deaths and derailed its economy for many years. This prompted the first wave of foreign investment into the country, since when the Chinese authorities have repeatedly intervened to rein in growth and battle inflation.
There have been problems – China's stock market crashed in 2008 after a speculative boom turned sour. Some analysts now believe that the country is about to suffer a property crash that will hurt its banking sector. Hedge fund manager Jim Chanos warned in April that the Chinese real estate bubble might burst later this year or in 2011. Construction is a major part of China's economy, and a property slowdown – or worse could knock its economic growth.