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In 1979 some changes were made in the economy in attempt to revise and develop the economic conditions in China. The government gave up some control and encouraged foreign investments. There growth was great and happened at a fast pace. In 2005 their GDP was 10.2 percent and the country had revenue of “$2,234.3 billion” annually even thought these numbers seem impressive China has a population of “1.32 billion” and is considered a low income country.
The economy grew at a fast rate but because the pace was so fast financial planners were unable to keep up with the demand and this lead to an unbalanced development and caused problems for the economy...
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