In the early days of the People’s Republic of China, the Chinese people faced severe tests. In terms of economy, domestically, years of war had devastated agriculture and industry, and hyperinflation was still rampant; internationally, due to the political isolation and economic blockade of the imperialist countries led by the United States, China was subjected to increasing trade restrictions. In the face of domestic turmoil and foreign aggression, the Chinese government acted quickly to revive the domestic economy, strictly controlled the currency, and adopted a positive yet prudent attitude to promote economic construction.

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Development and Exploration of the Chinese Economy (1949–1978)

  • Hongbing Ouyang,
  • Yaqing Liu,
  • Xiaofeng Zhao

摘要

In the early days of the People’s Republic of China, the Chinese people faced severe tests. In terms of economy, domestically, years of war had devastated agriculture and industry, and hyperinflation was still rampant; internationally, due to the political isolation and economic blockade of the imperialist countries led by the United States, China was subjected to increasing trade restrictions. In the face of domestic turmoil and foreign aggression, the Chinese government acted quickly to revive the domestic economy, strictly controlled the currency, and adopted a positive yet prudent attitude to promote economic construction.