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Introduction

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Abstract

China has had a turbulent history this century. Once known as the center of capitalism in the late 19th and early 20th century, the Communists’ take-over in 19491 caused the country to experience massive destruction. In 1978, it was those same Communist forces who re-opened the doors to foreigners and encouraged them to invest in the country’s economy. Since then, China has emerged as the world’s number two recipient of foreign investments, totaling US$ 42.4 billion2, only surpassed by the United States. The fall and rise of China belongs without doubt to the most important economic events of this century. One might even argue that the globalization of economies has had much to do with the emerging Asian markets and in particular that of China.

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References

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    Hereafter, mainland China is known as the People’s Republic of China (PR China), since the earlier ruling force, the Kuomintang, fled to the island of Taiwan, founding the Republic of China. In this essay, the author refers to the People’s Republic of China when talking about China.Google Scholar
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© Springer Fachmedien Wiesbaden 1999

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