Abstract
The “Cultural Revolution” took place during this period. Despite serious setbacks, the Chinese economy did not come to a halt, and managed to make some headway. Compared with 1966, in 1976, the value of the gross output of industry and agriculture increased by 79 percent with an average annual growth rate of 7.1 percent; the aggregate social product increased by 77.4 percent, seeing an annual average growth rate of 6.8 percent; and the gross national income increased by 53 percent, witnessing an annual average growth rate of 4.9 percent.
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Notes
- 1.
National Bureau of Statistics of China, 1981: China Statistical Yearbook, China Statistics Press, 1982. These are the source of all data in the book unless otherwise indicated.
- 2.
On February 22, 1974, Mao Zedong set forth his strategic thinking of the division of the three worlds when he met Kenneth David Kaunda, President of Zambia. He observed, “In my view, the United States and the Soviet Union belong to the First World. The in-between Japan, Europe and Canada belong to the Second World. The Third World is very populous. Except Japan, Asia belongs to the Third World. So does the whole of Africa and Latin America”.
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Bo Yibo, Review of Several Important Decisions and Events (Volume 1), Central Party School Press, 1991.
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Xia Yafeng, The Nixon Doctrine and American Foreign Policy Changes, CPC History Studies, 2009(4).
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Report at the Second Plenary Session of the Seventh Central Committee of the Communist Party of China,” Selected Works of Mao Zedong, People’s Publishing House, 1966.
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Marx, Engels, Lenin and Stalin on International Trade, Beijing Foreign Trade College Press, 1959.
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Chen Donglin, The Second Climax of the International Introduction of China in the Early 1970s, CPC History Studies, No. 1996.
- 8.
BP, 2009: Statistical Review of World Energy, http://www.bp.com.
- 9.
The lowest level occurred during the three-year long natural disasters in 1961-1962, when it once dropped to 4 percent; see Angus Maddison, The World Economy: A Millennial Perspective, Trans. Wu Xiaoying, Xu Xianchun, Ye Yanfei, Shi Faqi, Peking University Press, 2003.
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Pei, C., Wang, W. (2022). A Growing Number of Trading Partners, 1966–1976. In: China’s Foreign Trade. Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-19-5703-1_3
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DOI: https://doi.org/10.1007/978-981-19-5703-1_3
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