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While the rest of the world was engulfed in a world war, China was uprooting the dynastic system that had ruled there for 3000 year. This video explains how the Chinese economy emerged from such chaos. It goes further and discusses how the nationalists and communists joined forces briefly to bring the nation back together under the Chinese Republic, and then they quickly split and started fighting the Chinese Civil War. The fight between nationalists and communists went on for decades, and was interrupted by an alliance to fight the invading Japanese during World War II. After the World War II ended, the Chinese Civil War was back on. Mao and the communists were ultimately victorious, and Chiang Kai-Shek ended up in Taiwan. Mao spent years repeatedly trying to purify the Communist Party and build up the new People's Republic of China with Rectifications, Anti Campaigns, Five Year Plans. the Great Leap Forward, and the Cultural Revolution. While these had mixed results, they did eventually lead to the modern Chinese economy that we are famliar with today.
A simple explanation of the complex issues surrounding US-China trade and a look at ways to boost the US economy. This video is extremely useful for those who want to learn how China has gained a competitive advantage over the US. While economics can be a complex topic, this video breaks down the issues and uses visual illustrations to demonstrate how the US and Chinese economies interact with one another.
Image courtesy of http://www.bbc.com/news/business-36051327.
Related Statistics To China's Economy
GDP 9.24 trillion USD (2013)
Population 1.357 billion (2013)
Life expectancy 75.20 years (2012)
Data courtesy of http://data.worldbank.org/.
Image courtesy of http://www.advancedontrade.com/2014/01/Comparison-of-US-and-Chinese-Exports-and-Imports.html