Abstract:

After market reforms in 1978, China gradually switched from a centrally planned economy to a socialist market economy and achieved significant success in economic development. The impressive economic upsurge of China is one of the most remarkable phenomena of the last four decades. Since 1978, the Asian dragon has undergone an amazing economic transformation under the leadership of the postmaust generation of communist leaders. The objectives of the article are to present and briefly analyze the economic rise of China over the past four decades. To achieve the goals of the article, the authors used a quantitative research method. The document briefly analyzes the economic rise of China, taking into account the dynamics of its GDP and the rate of economic growth. The results showed impressive economic indicators achieved by the "Asian dragon" even during the period of world crises.

Keywords: Economic growth, economic reforms, China, the Communist Party of China