Analysis and forecast of the economic growth of the People's Republic of China

Abstract

In a relatively short period of time, the People's Republic of China transitioned from a primarily agricultural society to an industrial economy. This progress has been made possible, above all, by policies established after 1978, which have resulted in significant advances in production and living standards. China's impressive growth in recent years is one of the most striking examples of the effect of policies aimed at opening the economy to global markets. Furthermore, one of China's primary strategies for economic success is continuous innovation: because of its great exposure to international technological flows, China is able to obtain and upgrade technologies to fuel its innovation and increase productivity. Understanding how a country that was primarily agrarian became the world's factory in just a few decades can be done by identifying the measures that have been taken to make China the superpower it is today, as well as the primary strategies that have been adopted. Simultaneously, studying and forecasting its growth might be useful for understanding the country's trajectory while taking into account the challenges it will have to confront.