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China's Economic Growth

Definition

This refers to China's rapid expansion in terms of GDP (Gross Domestic Product) since implementing market reforms in late 1970s under Deng Xiaoping's leadership.

Analogy

Imagine if you started working out regularly after years of being sedentary. At first you might not see much change but gradually your muscles would grow stronger and larger until people start noticing your transformation. That’s similar to China’s economic growth – slow at first but then rapidly increasing until it became one of largest economies globally.

Related terms

Deng Xiaoping Reforms: These were a series of economic policies introduced in China after Mao Zedong's death that opened up China's economy to foreign investment and market competition.

Special Economic Zones (SEZs): These are regions in China where foreign investment is encouraged, businesses face less regulations and more freedom on business operations.

One Belt One Road Initiative: A global development strategy adopted by the Chinese government involving infrastructure development and investments in nearly 70 countries and international organizations.