The nation boasted this wealth for a majority of the last millennia only ever trading places with india, another nation that flies under the radar in recorded history. It even achieved and maintained a level of wealth beyond the typical colonial powers like England, frace and the Netherlands that we typically associate with world domination in this period and it did it through good old fashioned grunt.
In this video we explore how it all went wrong in the 20th century.
Patreon – https://www.patreon.com/EconomicsExplained
Music – Chinese Pop Songs Piano ~ Relaxing Piano Music (https://www.youtube.com/watch?v=w2X1dtPScpI&t=467s)
Nee, V., 1992. Organizational dynamics of market transition: hybrid forms, property rights, and mixed economy in China. Administrative science quarterly
Chai, J.C., 1998. China: Transition to a market economy. OUP Catalogue
The annual data of China’s GDP published on China NBS: National data – annual – national accounts – Cross Domestic Product Archived 14 June 2018
Chi-Yun, C.H.E.N., 2005. Han Dynasty China: Economy, Society, and State Power–A Review of Cho-yun Hsu, Han Agriculture: The Formation of Early Chinese Agrarian Economy
Cheung, Y.W., Lai, K.S. and Bergman, M., 2004. Dissecting the PPP puzzle: the unconventional roles of nominal exchange rate and price adjustments. Journal of International Economics
Schurmann, F., 1973. Ideology and organization in communist China. Univ of California Press
Chang, J.K., 1969. Industrial Development in Pre-Communist China: A Quantitative Analysis. Aldine Publishing Company
Peng, X., 1987. of the Great Leap Forward in China’s Provinces. Population and development review
Li, W. and Yang, D.T., 2005. The great leap forward: Anatomy of a central planning disaster. Journal of Political Economy
Bachman, D. and Bachman, D.M., 2006. Bureaucracy, economy, and leadership in China: The institutional origins of the Great Leap Forward. Cambridge University Press
Chen, Y., 2009. Cold War competition and food production in China, 1957-1962. Agricultural history