Trade has been a very significant factor of the People's Republic of China's economy. In the twenty-five years that followed the founding of the Republic in 1949, China's trade institutions developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms were adopted by the government to develop a "socialist planned commodity economy". This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free markets in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
Famous quotes containing the words history of, history, trade, people, republic and/or china:
““And now this is the way in which the history of your former life has reached my ears!” As he said this he held out in his hand the fatal letter.”
—Anthony Trollope (1815–1882)
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)
“A nose, kind sir! Sure, Mother Nature,
With all her freaks, ne’er formed this feature.
If such were mine, I’d try and trade it,
And swear the gods had never made it.”
—Susanna Moodie (1803–1885)
“I waited alone, in the company of orchids, roses and violets who—like people waiting beside you, but to whom you are unknown—maintained a silence which their individuality of living things rendered more imposing and in their chilly manner received the heat from an incandescent coal fire, preciously placed behind a crystal glass, in a white marble tub where it dropped, from time to time, its dangerous rubies.”
—Marcel Proust (1871–1922)
“Royalty is a government in which the attention of the nation is concentrated on one person doing interesting actions. A Republic is a government in which that attention is divided between many, who are all doing uninteresting actions. Accordingly, so long as the human heart is strong and the human reason weak, Royalty will be strong because it appeals to diffused feeling, and Republics weak because they appeal to the understanding.”
—Walter Bagehot (1826–1877)
“In a country where misery and want were the foundation of the social structure, famine was periodic, death from starvation common, disease pervasive, thievery normal, and graft and corruption taken for granted, the elimination of these conditions in Communist China is so striking that negative aspects of the new rule fade in relative importance.”
—Barbara Tuchman (1912–1989)