Answer :

After the inception of the People’s Republic of China , following the communist revolution under the leadership of Mao, its economy was based on the Soviet model.

The main objective behind China’s adoption of the Soviet model of economy were:


1. China chose soviet model to keep pace with the capitalist world.


2. The model was to create a state-owned heavy industries sector from the capital accumulated from agriculture.


The model benefitted China in the following way :


1. Employment and social welfare was assured to all citizens.


2. China moved ahead of most developing countries in educating its citizens and ensuring better health for them.


3. The economy also grew at a respectable rate.


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