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Development of Open Economy

  • Xiaojing Zhang
  • Xin Chang
Chapter
Part of the China Insights book series (CHINAIN)

Abstract

At the beginning of reform and opening up, Deng Xiaoping pointed out: the present world is open. One important reason for China’s backwardness after the industrial revolution in western countries was its closed-door policy. After the founding of the People’s Republic, we were blockaded by others, and the country remained virtually closed, which created difficulties for us. The experience of the past 30 or so years has demonstrated that a closed-door policy would hinder construction and inhibit development. There could be two kinds of exclusion: one would be directed against other countries; the other would be directed against China itself, with one region or department closing its doors to the others. Both kinds of exclusion would be harmful. We are suggesting that we should develop rapidly, but not too rapidly because that would be unrealistic. To do this, we have to invigorate the domestic economy and open (Deng Xiaoping 1993).

Keywords

Foreign Exchange World Trade Organization Foreign Trade Free Trade Zone Asian Infrastructure Investment Bank 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© China Social Sciences Press and Springer-Verlag Berlin Heidelberg 2016

Authors and Affiliations

  • Xiaojing Zhang
    • 1
  • Xin Chang
    • 1
  1. 1.Chinese Academy of Social SciencesBeijingChina

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