Question

China’s strategy for modernization and economic development in the 1950s most closely resembled the developmental strategy of:.

Answer 1

China’s strategy for modernization and economic development closely resembled that of the Soviet Union's developmental strategy in the 1950s.

What is China’s strategy for economic development in 1950s?

In the early 1950s, China applies some strategic measures to reform the modernization and its economic development. These are:

1. New macroeconomic policy reactions" to help regulate near-term growth,
2. Modification of the economic growth trend" to boost consumption even more,
3. Improved competition to enable the economy to play the primary role and encourage private sector participation,
4. Rapid urbanization to facilitate growth and employment, and
5. Fiscal and monetary sector reform.

These reforms were emphasized to be in correlation with the Soviet-style development strategy.

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