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This is China. The second largest economy in the world, home to the largest population in the world and the most aggressive economic expansion in modern history. Most people watching this video now would have seen china go from a collection of mostly peasant farmers into the economic powerhouse it is today within their lifetimes. The economic development of China has among other things also contributed heavily to the massive drop in absolute global poverty we have seen today. Modern day China is so massive and influential that a rundown of its economy will not fit into a single video so just like the previous video’s on the united states we will be breaking it down into a video series with a particular focus per video.
References -
- Nee, V., 1992. Organizational dynamics of market transition: hybrid forms, property rights, and mixed economy in China. Administrative science quarterly
- Chai, J.C., 1998. China: Transition to a market economy. OUP Catalogue
- The annual data of China's GDP published on China NBS: National data – annual – national accounts – Cross Domestic Product Archived 14 June 2018
- Chi-Yun, C.H.E.N., 2005. Han Dynasty China: Economy, Society, and State Power--A Review of Cho-yun Hsu, Han Agriculture: The Formation of Early Chinese Agrarian Economy Cheung, Y.W., Lai, K.S. and Bergman, M., 2004. Dissecting the PPP puzzle: the unconventional roles of nominal exchange rate and price adjustments. Journal of International Economics
- Schurmann, F., 1973. Ideology and organization in communist China. Univ of California Press Chang, J.K., 1969. Industrial Development in Pre-Communist China: A Quantitative Analysis. Aldine Publishing Company
"There were decades in Chinese history when the rate of recorded peasant uprisings was roughly 1.8 per hour (!). What’s more, such uprisings were frequently successful. Most of the most famous Chinese dynasties that were not the product of barbarian invasion (the Yuan or Qing) were originally peasant insurrections (the Han, Tang, Sung, and Ming). In no other part of the world do we see anything like this. As a result, Chinese statecraft ultimately came down to funneling enough resources to the cities to feed the urban population and keep the nomads at bay, without causing a notoriously contumacious rural population to rise up in arms. The official Confucian ideology of patriarchal authority, equal opportunity, promotion of agriculture, light taxes, and careful government control of merchants seemed expressly designed to appeal to the interests and sensibilities of a (potentially rebellious) rural patriarch." From Graeber his book Debt. In the notes: "According to Parsons, during the period 1629–44, there were as many as 234,185 insurrections in China, averaging 43 events per day, or 1.8 outbreaks per hour” (Deng 1999:220)"
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