Abstract
It was in 1949 that the People’s Republic of China was founded and Taiwan was integrated into Mainland China through a cooperative agreement. Beijing — “the capital of the north” in the past — became the capital of the People’s Republic. Since the foundation of the People’s Republic, the Chinese economy has been oriented towards being centrally planned, with the Communist central bloc having control of economic development and investment. However, thanks to the first reforms in 1978 and its opening up to the external world, China started to experience high economic growth and attract foreign investment. GDP in China averaged USD 1437.13 billion during the period 1960 to 2014, reaching a high of USD 10360.10 billion in 2014 and experiencing a low of USD 46.68 billion in 1962 (source: World Bank).
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© 2016 Serena Rovai
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Rovai, S. (2016). The Impact of Geographical Expansion and New Urban Dynamics on Client Segmentation. In: Luxury the Chinese Way. Palgrave Macmillan, London. https://doi.org/10.1057/9781137537751_6
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DOI: https://doi.org/10.1057/9781137537751_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-71123-9
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