31 May '11, 8pm

China's New Bubble = An Aging Population: #richardheinberg

China's New Bubble = An Aging Population: #richardheinberg

To understand the significance of those sacrifices, one must understand a little of the country’s recent history. At the end of the Communist revolution in 1949, China was impoverished and war-ravaged; the overwhelming majority of its people were rural peasants. Communist Party chairman Mao Zedong set a goal of bringing prosperity to the populous, resource-rich nation. A period of economic growth and infrastructure development ensued, lasting until the mid-1960s. At this point, Mao appears to have had second thoughts: concerned that further industrialization would create or deepen class divisions, he unleashed the Cultural Revolution, lasting from 1966 to the mid-1970s, when industrial and agricultural output fell. As Mao’s health declined, a vicious power struggle ensued, leading to the reforms of Deng Xiaoping. Economic growth became a higher priority than ever before, a...

Full article: http://www.postcarbon.org/article/346852-the-china-bubble...

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