The Spanish research institute, The Royal Institute Elcano, recently published an article on the 30th anniversary of China's reform and opening-up. It says China's reform and opening-up since 1978 is one of the greatest transformations in the history of mankind and it contributes to the whole world's prosperity and development.
The article says the Chinese leaders' decision of reform and opening-up 30 years ago has directly influenced the development of contemporary China. China's reform mainly developed along two major lines: reformation of the economic system and gradual broadening of the market's functions; opening up to the outside world. The reform started with agriculture, established the rural household contract responsibility system, followed by the dramatically expanding the corporate decision-making powers, opening up and promoting private enterprises, and liberalizing price.
The article says reform and opening-up has resulted in drastic changes in China. The most positive accomplishments have been the rapid economic growth and great improvement in people's living standard. Over the past 30 years, China’s GDP growth rates and per capita income have been continuously increasing.
The article states that it is unprecedented for China, the world's most populous nation, to realize such tremendous progress in the economy and people's lives within such a short period of time. In this sense, China's reform and opening-up is a transformation of extreme significance in the history of mankind. History will prove that China's development is one of the most important events in the contemporary world.
The article also says that some people regard China's economic development as a "threat" but China's development means one-fifth of the world's population is taking the road of peaceful development, and is of great importance to the whole world's prosperity. China's development has also offered opportunities for other nations since exporting products to China has already become a critical part of the economic life of many Asian and Latin American countries. China's economic development is becoming the engine of the world's economic growth.
By People's Daily Online
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