China's Journey from Poverty to Power: A Case Study

Hello, buddies! China is one of the world's most powerful nations right now. But can you believe that this country's poverty rate was over 90% just 40 years ago? The nation has become wretched due to poverty and malnutrition. But in the next 30 years, we witnessed such a profound change that the famished, impoverished nation came this far. China's share of the world GDP in 1978 was barely 2%. China now accounts for more than 18% of the global GDP. The second-largest economy in the world, China, with a poverty rate of less than 1%. It may be regarded as a powerhouse nation in many aspects. But how could that happen? What kind of magic did they employ? Come, let's do a thorough case study.

China's Historical Background

The Chinese term Qin, which represents China's 4,000-year history, is the source of the country's name. The nation, which formerly stood in the centre of the globe, was ruled by a strong dynasty. But starting in the 19th century, China saw a period of humiliation and colonisation. Civil wars, conflicts with Japan, the British East India Company's opium trade, and the horrors of World War II all caused it harm. These incidents had a significant influence on China and left it in a chaotic condition.

Mao Zedong's Era and its Consequences

Under Mao Zedong's direction, the People's Republic of China was founded in 1949. To change China's economy and social structure, Mao launched a number of campaigns and initiatives. His Great Leap Forward Campaign and the Cultural Revolution, however, had unfavourable effects. The Cultural Revolution caused turmoil and resulted in the deaths of many people, while the Great Leap Forward caused starvation and the deaths of millions of people.

Deng Xiaoping and Economic Liberalization

China's economic policy underwent dramatic adjustments under Deng Xiaoping after Mao died in 1976. He thought that the government's strict control over the economy was impeding the development of the nation. Deng established measures for economic liberalisation, such as the factory manager accountability system in industry and the home responsibility system in agriculture. These changes increased flexibility for both farmers and labour, fostering creativity and production.

China's Focus on Education and Technological Advancement

China made enormous strides towards women's equality and education under Mao's leadership. A solid foundation was established for the disciplines of education, science, technology, engineering, and mathematics (STEM) under Deng's direction. Strategic investments were made in these fields, resulting in the development of a talent pool that aided China's technical advancement. Today, data science and software development play a significant part in changing lives, and organisations like Scaler.com provide courses to improve knowledge in these fields.