Foreign direct investments and trades

by | Sep 15, 2021 | Homework Help

Create a 6 page essay paper that discusses 3 questions to answer.Foreign direct investments and trades were encouraged under the “open door policy” to ensure rapid economic growth of the country (Zhao 114). During the Mao era, China tried to achieve its economic objectives under ideological and conservative foreign policies. However, the failure of “Great Leap Forward” and “Cultural Revolution” caused the deaths of millions of people and significantly crippled the Chinese economy and brought the country on the verge of failure in terms of political and socio-economic aspects (Solomon 60-97). By adopting the “Great Leap Forward” policy in the late 1950s, Mao tried to promote China’s industrialization by emphasizing on the development of domestic “backyard” steel manufacturing factories. Besides steel, other industries were particularly ignored. As traditional peasants were forced to work in factories instead of fields, most of the country’s crops were spoiled due to the lack of harvesting. Consequently, a great famine gripped the country from 1959 to 1961. According to official reports, over 45 million of people were died from starvation during the “three bitter years” (Southerland). During Mao’s 2nd disastrous policy, i.e., “Cultural Revolution”, enormous number of scientists, intellectuals, teachers, artists, and others, who were considered as a threat to the Communist ideology, were tortured, harassed, imprisoned, or executed under the name of social and political persecution. Mao’s oppressive ideological policies and self-isolation from global platform descended the country into chaos and lawlessness (Southerland).Historically, China had a troublesome relationship with its neighbors due to territory and border issues. India, Japan, and Soviet Union were the biggest competitors and threats to China and its objective of becoming an Asian powerhouse. In order to protect its sovereignty and national security, developing a strong military and overall,

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