China - The Economy of China

What would China's revolutionary leader, Mao Zedong, think if her were alive today? Mao's Chinese Community Party continues to hold a monolopy on political power, and China remains at its core a developing nation. But in other respects, today's China bears little resemblance to the country that emerged under Mao's leadership after World War II and a bitter civil conflict. Most important, today's People's Republic of China is Communist in name only. Rapid economic liberalization has brought capitalism, and unprecedented prosperity, to the world's most populous country. Farmers, once the backbone of China's economy, are taking a backseat to the entrepreneurs who make millions exporting low-cost, sophisticated computer chips and flat-screen televisions to the rest of the world.