Economic Reforms in China

The video discusses China's transition from Mao's collectivized agriculture to Deng Xiaoping's decollectivization, which allowed family farming and increased agricultural output by 20%. It highlights the creation of special economic zones that opened China to foreign trade and investment, leading to significant economic growth. Over 20 years, China reformed its market economy, strengthening institutions and creating jobs in textiles and electronics.

What was a key characteristic of Mao's collectivized agriculture?

• High agricultural output

• Large communes with unrelated pay to work effort

• Individual ownership of land

• Focus on industrialization

What change did Deng Xiaoping introduce to agriculture?

• Introduction of high-tech farming

• Decollectivization to family farming

• Increased industrialization

• Nationalization of all farms

How did property rights affect agricultural output in China?

• Output increased by 20%

• Output remained the same

• Output increased by 50%

• Output decreased by 20%

Why was China unable to become rich solely through farming?

• Poor soil quality

• Insufficient land

• Lack of technology

• Too densely populated

What was the purpose of China's special economic zones?

• To open up to foreign trade and investment

• To isolate certain regions

• To promote domestic agriculture

• To restrict foreign trade

Which city was a major special economic zone in China?

• Xi'an

• Shanghai

• Beijing

• Chengdu

What industries saw significant investment in China's special economic zones?

• Pharmaceuticals and biotechnology

• Automobile and aerospace

• Textile and electronics

• Mining and agriculture

How did China initially approach foreign trade and investment?

• By banning all foreign investments

• Aggressively and without restrictions

• Cautiously with special economic zones

• Through complete privatization

What was a key factor in China's economic growth over 20 years?

• Reducing foreign investment

• Focus on agriculture

• Strengthening market economy institutions

• Isolation from global markets

What was the long-term impact of China's economic reforms?

• Weakening of market institutions

• Strengthening of market economy institutions

• Decline in foreign investment

• Reduction in agricultural output