FDI Attraction - China's Open Door Policy Flashcards
1
Q
When was the Chinese reform passed?
A
1978
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
3
Q
How many people migrated from rural areas to urban areas due to the Chinese open door policy?
A
Around 300 million
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
5
Q
How much of China’s GDP did SEZs account for in the 90s?
A
50%
6
Q
How many people were able to escape poverty due to the reform?
A
Around 400 million