Question

what are the two different phases of China (in detailed way)??? ​

Answer 1

Answer:

The two phases of China are the liberlization period and the Gershenkron period.

 Explanation :

• In the late 1970's China pushed through a series of liberalizing reforms which was an attempt to create social capital.

• By eliminating laws that severely restricted Chinese people's ability to behave productively, these reforms unleashed an explosion of economic activity that created tremendous wealth.

• However, as Chinese productive undertaking increased it started to run into infrastructure and power constraints. This began the second phase of China 's amazing growth.

• It was characterized by domestic resource gathering to fund an investment bubble aiming to build both capacity and infrastructure. China embarked on a mission to resolve the constraints as described by Alexander Gershenkron.