China’s Economic Miracle From 1949 To 2019: Infographic

China has come a long way since the early part of the 20th century. From a rural “backward” country China has transformed its economy in the 70 years since 1949 to become the world’s second largest economy. While other communist countries collapsed and converted to democracy, China followed a different approach called “Market Socialism”. In this form of government, there is only one party that runs the state and things like democracy are frowned upon. In China’s case it is the communist party (CCP) that keeps a tight lid on power and crushes any form of opposition to it. However China threw open its economy to market forces basically turning to capitalist principles. Hence the term “Market Socialism”. This unique form of government has led to the dramatic economic growth over the past few decades.

The following infographic shows some of the major achievements of China from 1949 to 2019:

Click to enlarge

Source: China Daily

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