SOC 145A Lecture Notes - Lecture 10: Gross Domestic Product, Biomanufacturing, Genetically Modified Organism
Document Summary
Economy crashed, gdp was no better than bangladesh. Opened the country to international capita- (trade, imports, and exports) Gdp growth went up extremely and is now one of the global superpowers. Agriculture is no longer a majority of the economy-- industry dominates the economy nowadays with ag. in second, and services in third. When the globalization project began, china left socialism behind to take part in it. China has exported so much to asia, us, and europe, making them very wealthy. China used their wealth to invest in other country"s economic markets-- this makes many people very anxious. Initial strategies used by china to invite foreign investment. Determined to control foreign capital in china-- you have money, well you have to play by china"s rules. Foreign investments/companies had to make contractual joint ventures-- essentially a contract that works great for china and still works for the foreign investors.
