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Opium War
The British sold opium to the Chinese who became addicted. To pay for the opium, the Chinese depleted most of their silver supply, greatly weakening the Chinese economy. The treaty of Nanjing ended the war, and opened up trade in China. William McKinley pushed for the open door policy, which would allow all countries to have equal access to Chinese trade. What originally weakened China's economy, helps it greatly today. -
Taiping Rebellion
Due to the loss of territory, many people believed that the Qing dynasty was decaying. To prove that they could still do some good for China, they set up factories, dockyards, and created more modern warships. Men were also sent to the west to gain modern knowledge. This created a huge economic gain for China as they became a more modern country. -
Boxer Rebellion
An organization called the Harmonious Fists wanted to rid all of the Japanese and Western influence in China. To bring back the traditional ways of life, the "Boxers", began killing many Chinese Christians and Westerners. The Boxer Protocol was put in place to end the rebellion. This caused strict trade laws to be put into place, and $330 million was paid to foreign countries involved in the war. The rebellion was a very bad influence on the Chinese economy in the end. -
The Great Leap Forward
In an attempt to increase food production, Mao Zedong divided China into communes with up to 20,000 people working the land. Bridges, dams, irrigation systems, and schools were built. This was great for the economy. But, because all workers were paid equally wether or not work was done, crops were destroyed, and production fell. So overall, the Great Leap Forward failed and set China back. -
Four Modernizations
When Deng Xiaoping came into power, he wanted tomake China a more economically stable country. Through the four modernizations he allowed many new freedoms. Foreign investment in China was allowed, managers of buisnesses could make their own decissions and profits, and farmers could sell whatever crops they grew for profit. As a result, the Chinese economy boomed and caused it to become the second highest ranked country in terms of GDP.
