Abstract
Over the past two and a half decades, China has experienced a profound social transition from a state socialist command economy to a market economy. These fundamental changes have altered every aspect of Chinese society. The economic reform has achieved remarkable success. From 1990 to 2002, China's GDP increased by an average of 9% per annum, making it the sixth largest economy in the world by 2002, with a GDP of $USI.23 trillion (China Statistical Bureau, 2003). The accelerated economic development has transformed China into one of the world's leading economies. It has become the fastest growing economy in the world and the fifth largest exporting nation, and an engine of growth for the entire Pacific Rim. The opening up of ‘Red’ China to the world has led to enormous and fundamental changes in the social and economic life of all Chinese people, especially in urban areas and coastal regions.
Get full access to this article
View all access options for this article.