Question

What was the first change in china and why

Answer 1

Answer: The first change in China was the Chinese economic reform. This reform was termed as Socialism with Chinese characteristics.

The Chinese economy entered into a state of stagnation. So, to get the economy back to reform the Communist party leadership became market-oriented.

Explanation:

To save Chinese economy from failing down further, the Communist party started doing some market oriented reforms. These reforms happened in two phases.

The first phase included steps that opened country to foreign reforms.

The second phase involved handing over most of the state owned business to private sector, thus marking the start of privatization in China.

These changes help Chinese economy to grow at a much faster rate.