China's Economy
Since the government initiated a move from a centrally planned economy to a more market-oriented economy in 1978, the GDP has more than quadrupled. Agricultural output and industry have exploded, encouraging an increase in foreign investment as well. Occasionally, however, Beijing backtracks the economy by tightening central control in what is termed a "socialist market economy." The government struggles to collect revenues from provinces and businesses, to reduce corruption and crime, and to maintain large state-owned businesses. Continued threats include popular resistance to the population control program, rapid deterioration of the environment, and the threat of tensions between a highly centralized political system and a highly decentralized economic system. China's GDP breaks down as follows: agriculture (20%), industry (49%), and services (31%).
General