from Part II - 1950 to the Present
Published online by Cambridge University Press: 07 February 2022
In the nineteenth century, the Chinese Empire – the longest-lasting empire in human history – was the largest economy on earth with a decent per capita GDP level. But it shrank rapidly after its collapse. Since the founding of the PRC in 1949, China had been one of the poorest economies in the world until the post-Mao reform, which has enjoyed high growth for three decades. But a sustained slowing down since 2009 reminds us of the trend of the Soviet economy since the mid-1970s.
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