China Case Study

Background

• 40 years ago their economy was smaller than UK's, now 6x bigger
• Creates 18 million jobs a year, but still short of 25 million
• 250 million migrant workers
• Number of over 60's will increase 230 million by 2050
• Sustained average GDP growth of 8% for last 25 years
• 150 million live on less than US$1 a day but home to 1 million millionaires

Reasons for Growth

• Change of government in 1978 - move away from centrally planned government to a more market orientated one
  
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