China Overview

China as we all know , that it is home to about one fifth of the world's population. It has had a turbulent, bloody history in the twentieth century, and until the late 1970s was regarded as an intractable and radical communist state. Yet in the past two decaded, a wide ranging series of reforms has transformed the economy into a unique hybrid of state control and free wheeling capitalism, and the politcal system into a mix of authoritarian one party rule and local factionalism. Economic growth has been spectacular, but has brought with it equally spectacular problems. Since the late 1970s, the Chinese economy has been growing at an average annual rate of more than 9 percent; which in other words, I would say that the output has more than quadrupled over the last twenty years.