The People's Republic of China was established in 1949 and has always aimed at achieving high rates of economic growth as well as transforming their economy into an industrial economy. In the last few decades, the world's most populous nation has liberalised its economy and gone from producing low-quality and simple exports to sophisticated high-technology goods while attracting nearly $500 Billion in foreign direct investment (FDI). The Chinese government also implemented many strategies to do this and it has resulted in China overtaking the United States as the world's growth engine. …
