Introduction
China is one of the oldest civilizations of the world, and was once at the forefront of development and innovation. This was not the case ever since the middle ages and China slipped into becoming a feudal nation. However, since the last 25 years, China has been taking strong strides in the economic world. Our report attempts to analyze how these changes came about.
The People's Republic of China has been a communist country since 1949. Communism and Liberalization would appear to be antagonistic to each other. Government played a strong role in economic activities, including controlling the market entirely. Given the circumstances, why did China liberalize? Furthermore, how has liberalization benefited China? Has the liberalization extended to all classes of Chinese society? How has the Chinese polity and society reacted to the reforms? Are there any obvious differences between the liberalization process in China and India?
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