China Economy
Updated: 2/9/2020
China Economy
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gEOGRAPHY

Storyboard Text

  • In 1978, China underwent political reform. This meant that they opened their doors to foreign factories.
  • In 1978, China created Special Economic Zones near urban areas which allows companies to grow, trade and invest. The number of factories increased and allowed more jobs and economic changes.
  • An increase in foreign factories in urban areas generates money (taxes) for the government which means they can industrialise rural areas.
  • More skilled workers and better infrastructure makes urban China even more attractive to foreign companies. This means that their economy is growing.
  • In 2001 China joined the World Trade Organisation (WTO). This means that they have a wider variety of consumer goods.
  • High profile events such as the Beijing Olympics 2008 means that more people will move into the urban areas of the country and increase profit for foreign and Chinese companies
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