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.

Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
view all courses

Describe any fourPolitical Science - Board Papers

Describe any threPolitical Science - Board Papers

Trace the ePolitical Science - Board Papers

Write any two exaPolitical Science - Board Papers

Describe any threPolitical Science - Board Papers

<span lang="EN-USPolitical Science - Board Papers