The First Five Year Plan - 1953-1957

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  • Created by: sammilaw
  • Created on: 02-01-15 12:14
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  • The First Five Year Plan - 1953-1957
    • Aims:
      • To industrialise China
      • To catch up with the West (i.e. UK, USA) in production of coal, steel and petrochemicals
      • To use Communist/centrally planned methods
      • To make China a Superpower
    • The Help of the USSR:
      • Mao was impressed by Stalin's previous five-year-plans
      • USSR was the only country after the 1949 revolution to offer China economic aid
    • Achievements:
      • Construction of large infrastructure projects i.e. at Nanjing
      • Increased production of:
        • Coal (doubled), machine tools (tripled) and steel (quadrupled)
        • Increase in trucks and bicycles
      • Sino-Soviet Pact (1950):
        • 10,000 soviet economic advisers (helped build 200 public buildings)
        • $300 million credit from USSR
      • 9% growth rate
      • Inflation reduced from 1000% to 15%
    • Failures:
      • Sino-Soviet Pact (1950):
        • Only 5% of the capital sent to China was genuine industrial investment
          • The rest was in the form of loans and had to be paid back with high interest rates
            • The Chinese had been exploited (souring of Sino-Soviet relations)
        • Dependant on the USSR - China not a superpower
        • China had to pay for adviser upkeep
        • Suggestions that Stalin deliberately prevented an early armistice in Korea to exhaust the Chinese
      • Increased PRC expenditure:
        • 1950: 6810 million yuan - 1957: 29,020 million yuan
      • All businesses were state controlled by 1956: little room for initiative/creativity
      • Officials exaggerated figures to keep CCP happy

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