China’s Modern Economy. A Socialist Market Economy (It’s a mix!). China’s Economic Transformation. In the 1980s new economic “rules” were introduced and applied only in certain urban areas on the Pacific Coast known as Special Economic Zones Senzhen Zhuhai Shantou Xiamen
A Socialist Market Economy
(It’s a mix!)
China assembles more toys, stitches more shoes, and sews more garments than any other nation. It has also become the world’s largest maker of electronics.
Cargo lines the docks, awaiting export from the Yantian International Container Terminal in Shenzen
1.4 billion people = greatest natural resource on the planet!
Largest human migration in history as hundreds of millions of peasants move from the countryside to live in urban areas
The price at which Chinese manufacturers can deliver certain goods and services
The price American (or any other country’s) manufacturers/suppliers have to match to keep their customers
The pros and the cons?
People flooded Foxconn Technology with résumés at a 2010 job fair in Henan Province, China.