State how the economy of China has changed since 1978. Describe the strategies adopted to acheve these changes.
Changes made to the Chinese Economy:-
1945 - 78 : Centralized control, isolated, inward looking state based on collectived agriculture and heavy industry,
1980's - 90's : More Exported orientated, iron and steel, petrochemicals, textiles, consumer goods and electronic products.
2000 - Present: Continuation of the above, but significant growth in service sector, mainly tourism and retailing to cater for a rapidly expanding affluent domestic market.
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