Titlebook: China and the Global Economy Since 1840; Lu Aiguo Book 2000 Palgrave Macmillan, a division of Macmillan Publishers Limited 2000 bibliograp

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Introduction: A Framework for AnalysisHowever, what impresses the world more is the rapid advance in China’s foreign trade. Since 1978, the level of foreign trade has climbed more quickly than has GNP. This has led to a jump by a factor of three in China’s share in international merchandise trade. China appears to have become an important player in the world market.

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The Statelize. This situation changed drastically following the rise to power of the Communists in 1949. As if to prove the point, the state immediately undertook full-fledged industrialization and made tremendous progress within a relatively short time.

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Palgrave Macmillan, a division of Macmillan Publishers Limited 2000

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Falling Behind: The Lessonso other ‘external arena’, and the world economy can be said to have encompassed the entire world, for no country or region remained that was able to operate independently of the world market and world capital.

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A Different Gamethe West still remained distant. It was, therefore, determined that a fresh attempt had to be made. An endeavour was briefly undertaken after the Cultural Revolution to strengthen the central planning system so as to energize the economy. However, due to the lack of immediate success, the endeavour was quickly abandoned.