In the aftermath of World War II, the Mao regime and the state-planned system had run the Chinese economy completely into the ground. The country experienced an unprecedented humanitarian disaster after agricultural production was heavily restricted in favor of allegedly promising sectors such as the steel-producing industry. When one considers contemporary China in contrast with this historical background, it seems quite impressive how the communist country managed to rise to such a high level of economic power. A turning point in this development was the proclamation of the Open Door Policy by Deng Xiaoping in the late 1970s, when the People's Republic recognized the importance of introducing advanced technologies in order to modernize its ailing industries. While the previous chapters of my dissertation often focused on the economic partners of the PRC, I would like to begin my closing remarks by sharing some thoughts on innovations and the role of technology in China.
KeywordsTrade Flow Accelerate Failure Time Model Patent Cooperation Treaty Open Door Policy Dispute Settlement Body
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