China says it has taken it more than thirty years to attain its current economic status, following years of calamities since it achieved its political independence in 1949.
According to Professor Zheng Wenzhe from the College of Economics and Management at the Zhejiang Normal University in Jinhua Province of China, the country started its reforms in 1978 after having been a closed economy and political country for a very long time.
The economic reforms according to Professor Wenzhe were historic and challenging all the way as there was need to balance the aspect of a socialist economy while at the same time opening up the economy for growth.
The idea was to have the economy benefit the ordinary person on the ground and this was inspired by a group of 18 farmers who volunteered with their pieces of land to create what may be termed â€˜voluntary patriotismâ€™ to build a base from which the Chinese economy is anchored today.
Thus the nation saw the emergence of nationalism.
The preceding calamities before 1978 needed urgent correction and by the 1980s reforms had begun in earnest.
Professor Wenzhe added that the Chinese Communist Party (CPC) was in the fore front mobilising the masses to contribute towards this noble idea of making sure that China’s economy would rise and satisfy its people.
The Asian country employed survival tactics and established economic regions in south, where exporting models were designed in Shenzhen, Zhuhai,Shatou And Xiamen.
These regions became China’s engines of economic growth and the economic activities were premised on communication lines such as roads, rails and the rivers where produce was being moved.
The economic reforms however faced challenges in the mid 1980s, but the founding fathers forged ahead with the people’s desire of socio-economic development based on the consultations the CPC was regularly carrying out through people’s conferences and congresses.
The economic reforms had to have the Chinese socialism character meant to speed development. This led to the rise of an active rural economy and the opening up or expansion of a local authority-based economy.
Thus, the country slowly moved from the post-Stalin planned economy (which led to the fall of the USSR) to a socialist and free market economy.
Chinaâ€™s economy has undergone transformation over the past years to becoming one of the first three in world best exporting countries, thereby achieving tremendous economic growth.
This has also seen China being dubbed the world’s factory because of its high levels of production.
The country has seen household spending patterns increase from as little as zero in 1957 to about 4,140 yuan in 2007 for rural communities, while the urban householdsâ€™ income has also increased from around 343 yuan in 1957 to 13 786 as of 2007.
This means that China’s household spending patterns have grown more than six-fold in 30 years – a feat which African countries can draw lessons from.