China's economic growth over the period 1966-1976

China Economic Growth
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China Economic Growth
The Chinese economy is one of the biggest in the world. According to a survey performed by the Dolomite Company in 2016 on the Global Manufacturing Competitiveness Index, China was ranked the best and major producer of more than half of 550 major products in industries in the world. However, there was a turning point that happened between the years 1966 to 1976 when the country decided to invest heavily in agricultural and industrial sectors (Lu, 2004). The socialist era which saw a commitment by the government in emulating the Soviet Union model of development, and also partnering with it in trade and technology, ensured that China was transformed faster than other developing countries at that time. The country transformed its industrialization from depending majorly on agriculture to depending majorly on manufacturing as its best GDP, contributing platform to the economy (Hoffmann, 1971). There were three stages that the firm went through between 1966 and 1976, and they include the high tide of the cultural revolution, the moist model, and gang of four, which was the last stage of that decade (He, 2017). Therefore, it is important to analyze China’s economic revolution from the tide of the cultural revolution in 1966 to the gang of four in 1976.
The high tide cultural revolution took place in China after Mao, who was China’s communist leader and founder of the People’s Republic of China, alleged that the bourgeois had infiltrated the country and aimed at bringing back capitalism traits. Mao organized factions of young people, especially students, to overthrow the leadership of the communist party as he felt that they started becoming selfish and not caring about the demands of others. The effects of the high tide cultural revolution in China were felt in the urban parts of China as most of the changes that occurred happened to be from modern culture. It is important to note that industries were involved in the processing of mines (Zhang, 2015). Due to continued protests and disruptions of the business activities by students, rural areas received less turmoil as most of the schools were located in urban centers. The service industry was also affected as the turmoil affected transport especially trains. Trucks that carrying Red Guards prevented the transportation of people and raw materials (Bell, 2018). This created a shortage of supplies of food and other essential commodities in the country. Revolutionary committees, on the other hand, had little or no knowledge on how to manage factories that were placed in their hands. Cases of xenophobia also decreased the technological advancement and imports of foreign materials that were boosting the economy, especially the balance of trade of China (Country Studies, 2000). This is because the technicians and scientists were sent to perform labor on farms, and the results after one year was a 14 percent drop in the economic development of the country.
The Maoist Model Era
The Maoist model was adopted after the Cultural Revolution in China led to the formation of a lot of factions that destabilized the economy in the country (Hoffmann, 1971). Chinese citizens we...