China's 40 years of reform that turned it into a superpower | ABC News
Summary
TLDRIn 1978, China emerged from the devastation of the Cultural Revolution as one of the world's poorest nations, with 88% of its population in absolute poverty. Following Chairman Mao's death in 1976, Deng Xiaoping initiated significant reforms in 1978, opening China to the world and embracing capitalism. Over four decades, these changes transformed China into the world's second-largest economy, lifting 700 million people out of poverty and significantly increasing its share of the global economy. Today, under President Xi Jinping, China continues its ambitious growth with initiatives like the One Belt, One Road project, aiming to establish a global trade network centered on China.
Takeaways
- 🌍 In 1978, China was emerging from the Cultural Revolution as one of the world's poorest nations.
- 👨🏫 Chairman Mao's death in 1976 marked the end of his ideological drive, leaving China economically and socially devastated.
- 📉 Eighty-eight percent of the population lived in absolute poverty, with China's economy being just 5 percent of the United States'.
- 📈 Over 40 years, China transformed into the world's second-biggest economy, with a 15-fold increase in GDP per capita.
- 👥 700 million people were lifted out of poverty, and China's share of the global economy grew from 1.8% in 1978 to 18.2% in 2017.
- 🔄 Deng Xiaoping's rise to power in 1978 brought radical changes, opening China up economically and politically.
- 🤝 Establishing formal diplomatic ties with the United States was a key step in Deng Xiaoping's reform initiative.
- 🌐 The number of Chinese citizens traveling overseas and foreigners visiting China increased dramatically from 1949 to 2017.
- 🏭 Embracing capitalism and encouraging private business fueled China's four-decade-long economic boom.
- 🛤 President Xi Jinping's ambitious plans, including the One Belt One Road initiative, aim to make China a global trade network hub.
Q & A
What was the economic condition of China in 1978?
-In 1978, China was one of the world's poorest nations, with 88% of its population living in absolute poverty and an economy that was just 5% the size of the United States'.
Outlines
📉 China's Transformation from Poverty
In 1978, China was recovering from the cultural revolution and was one of the world's poorest countries. Chairman Mao's death in 1976 marked the end of his intense communist policies that had left the country in economic disrepair and social chaos. At that time, 88% of the population lived in absolute poverty, and China's economy was only 5% the size of the United States'. However, within 40 years, China transformed into the world's second-largest economy, increasing its GDP per capita by 15 times and lifting 700 million people out of poverty. China's share of the global economy grew from 1.8% in 1978 to 18.2% in 2017.
🌐 Deng Xiaoping's Economic Reforms
The death of Mao Zedong in 1976 led to significant changes for China under the leadership of Deng Xiaoping, who rose to prominence in 1978. Deng initiated economic reforms that opened China to the global market, establishing diplomatic ties with the United States and encouraging international travel and trade. Between 1949 and 1978, only 200,000 Chinese citizens traveled abroad, but by 2017, that number had soared to 130 million. Deng's policies shifted China's economy from state-run enterprises to a more capitalist approach, attracting multinational companies and making China a global manufacturing hub. This economic transformation became the Chinese Communist Party's primary focus, leading to sustained growth and development.
🇨🇳 Xi Jinping's Ambitious Plans
Building on Deng Xiaoping's legacy, China's leaders continued to prioritize economic growth while maintaining their unique brand of socialism. Current President Xi Jinping is pursuing his own ambitious initiatives, including the One Belt, One Road project aimed at creating a global trade network centered on China. Xi's assertive foreign policy seeks to position China as the dominant economic and military power in the Asia-Pacific region, potentially challenging the United States' influence. These plans signify China's ongoing strategic efforts to enhance its global standing and economic strength.
Mindmap
Keywords
💡Cultural Revolution
💡Mao Zedong
💡Deng Xiaoping
💡Reform and Opening Up
💡GDP per capita
💡Absolute poverty
💡One Belt, One Road Initiative
💡Manufacturing hub
💡Chinese Communist Party (CCP)
💡Xi Jinping
Highlights
In 1978, China was emerging from its Cultural Revolution as one of the world's poorest nations.
Chairman Mao's ideological drive left the country's social and cultural institutions devastated and the economy in tatters.
Eighty-eight percent of people were living in absolute poverty in 1978.
China's economy was just 5 percent of the United States' and its GDP per capita was the equivalent of Zambians in 1978.
Fast forward 40 years, and China is the world's second-biggest economy.
GDP per capita increased 15 fold, and 700 million people were lifted out of poverty.
China's share of the global economy rose from 1.8% in 1978 to 18.2% in 2017.
The death of Mao Zedong in 1976 brought radical changes for the Chinese Communist Party and the nation.
Deng Xiaoping became a key player in China's leadership in 1978 and embarked on a reform initiative.
Deng Xiaoping helped establish formal diplomatic ties with the United States.
Deng Xiaoping began opening up China to the world, significantly increasing international travel and trade.
From 1949 to 1978, only 200,000 Chinese citizens traveled overseas; in 2017, Chinese citizens made 130 million overseas trips.
Deng Xiaoping radically shifted China's economy by embracing capitalism and encouraging private business.
China quickly became the world's manufacturing hub, with growth becoming the Chinese Communist Party's number-one priority.
Deng Xiaoping's successors maintained his push for growth and socialism with Chinese characteristics.
President Xi Jinping is embarking on ambitious plans, including the One Belt, One Road initiative to create a global trade network centered on China.
Xi Jinping's increasingly bullish foreign policy aims to muscle out the United States as the key economic and military power in the Asia Pacific.
Transcripts
in 1978 China was emerging from its
cultural revolution as one of the
world's poorest nations it's
revolutionary leader
Chairman Mao had just died in 1976 and
his ideological drive to enforce his
brand of communism left the country's
social and cultural institutions
devastated and the economy in tatters
eighty-eight percent of people were
living in absolute poverty China's
economy was just 5 percent of the United
States's and its GDP per capita was the
equivalent of Zambians fast forward 40
years and China is unrecognizable
[Applause]
[Music]
[Applause]
it's the world's second-biggest economy
with GDP per capita up 15 fold 700
million people have been lifted out of
poverty and that share of the global
economy has gone from 1.8% in 1978 to
18.2% in 2017 so how did one of the
world's poorest countries become a
global superpower in just four decades
the death of Mao Zedong in 1976 brought
with it radical changes for the Chinese
Communist Party and the nation when Deng
Xiaoping became a key player in China's
leadership in 1978 he embarked on a
reform initiative aimed at opening up
the economically and politically
isolated People's Republic of China he
helped establish formal diplomatic ties
with the United States and began opening
up China to the world from the years
1949 to 1978 only 200,000 Chinese
citizens had traveled overseas in 2017
alone Chinese citizens made 130 million
overseas trips and 139 million
foreigners journeyed to China but most
importantly Deng Xiaoping radically
shifted China's economy its four
decade-long economic boom was built on
embracing capitalism and encouraging
private business in stark contrast to
the poorly managed state-run enterprises
led by now as multinational companies
flocked to China it quickly became the
world's manufacturing hub and growth
became and still remains the Chinese
Communist Party's number-one priority
Deng Xiaoping changed the face of China
forever
his successors have maintained his push
for growth and his manner of socialism
but with Chinese characteristics and now
President Xi Jinping is embarking on his
own raft of ambitious plans his one belt
one road initiative hopes to create a
global trade network with China at its
center and his increasingly bullish
foreign policy could seem muscle out the
United States as the key economic and
military power in the Asia Pacific
[Music]
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