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Is China’s new industrial policy a ‘Great Leap Backward’?

Such a leap was the “Great Leap Forward”, a Chinese economic and social campaign to move the country from the primary sector, agriculture, into the secondary, manufacturing. The force and speed of the move was so intense, that they led to the greatest famine in human history, with death estimates ranging from 15 to 55 million. From a statecraft point of view, of course, the Leap was a success. China’s manufacturing capacity buildup served as the foundation for the country’s economic dominance in Asia, its entrance to the WTO and the ‘global economy’ status it has enjoyed in the past three decades.

Content Source: www.standard.co.uk

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