55.6k views
4 votes
What has happened to China’s GPD since it began to reform its economy?

User TheCyberXP
by
4.2k points

1 Answer

7 votes

Answer:

it has grown substantially

Step-by-step explanation:

in the past, China's government has total control over other economy. They failed to run it efficiently since the system provide no incentives for people to work harder and invents new things.

In the 1980s, china started to adopted some aspect of Capitalism and let the private sector grow their influence in the economy.

As a result, many people start to have incentives to contribute more to the economy. This system basically allowed the citizens seek personal wealth for themselves, but they are indirectly improving the country's economy.

User Cnrhgn
by
4.5k points