FDI Attraction - China's Open Door Policy Flashcards

1
Q

When was the Chinese reform passed?

A

1978

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2
Q

What did the Chinese reform do?

A

China opened up its market to make way for foreign TNCs, introducing them to the process of globalisation

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3
Q

How many people migrated from rural areas to urban areas due to the Chinese open door policy?

A

Around 300 million

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4
Q

What did urbanisation lead to following the Chinese open door policy?

A

The construction of low wage factories, in which major TNCs were quick to establish branches in

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5
Q

How much of China’s GDP did SEZs account for in the 90s?

A

50%

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6
Q

How many people were able to escape poverty due to the reform?

A

Around 400 million

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