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Introduction The Chinese economic reforms are long in the making an unfolding process that has spanned most of the twentieth century In fact it completely fit the definition of a full reform Unlike the other countries reforms Chinese economic reforms can be characterized overall as very successful When the other countries such as Russia were trying to do the same thing but did not success China has increased its countrys economy greatly China has the fastest growing economy in the world within the past two decades with an average annual growth rate of approximately 10 percent since its economic reforms began in 1979 Between 1979 and 1996 Chinese real GDP has quintupled from US150 billion to US750 billion Recent Chinese economic policies have shot the country into the world economy at full speed As testimony of this Chinas gross domestic product has risen to seventh in the world and its economy is growing at over nine percent per year which is very amazing Starting in 1979 the Chinese have implemented numerous economic and political tactics to open the Chinese marketplace to the rest of the world Just a few areas Chinas government is addressing are agricultural technology the medical market and infrastructures like telecommunications transportation and the construction industry China is one of the very few countries that have made a successful transition from a centrally planned economy to a market economy Worldwide China has friends who would like to see it march on to socialism and communism through reforms In this regard ever since China took up the reforms promoted by Deng Xiaoping commentators have been concerned that these reforms to the Chinese economy lead to the restoration of capitalism and will once again bring China under the yoke of foreign domination Many Chinese leaders did not believed that economic reform of China was necessary until after Mao Zedong died for a couple years By 1978 Chinese leaders were
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