special economic zones
Quote: "Let some people get rich first." - Deng Xiaoping
In 1979 four special economic zones were created in China.
The plan was for trade investment with the west.
Foreign firms were allowed to operate in these zones.
Cheap labour was provided in these zones.
New technology and management practices were introduced.
Most of the firms coming to these economic zones were from Hong Kong.
Summary:
The special economic zones were a starting point for future growth in China's economy. More special economic zones would be created later.
Website Links: http://en.wikipedia.org/wiki/Special_economic_zone
Question: How successful were the special economic zones for the economy of China?
In 1979 four special economic zones were created in China.
The plan was for trade investment with the west.
Foreign firms were allowed to operate in these zones.
Cheap labour was provided in these zones.
New technology and management practices were introduced.
Most of the firms coming to these economic zones were from Hong Kong.
Summary:
The special economic zones were a starting point for future growth in China's economy. More special economic zones would be created later.
Website Links: http://en.wikipedia.org/wiki/Special_economic_zone
Question: How successful were the special economic zones for the economy of China?