In what ways does the present Chinese economy differs from its command economy?
Medium

Solution

The "open door policy" has been followed by the current Chinese economy in order to increase productivity through investments in capital and technology. This is how it was different from its command economy:
1. It ended the command economy's stagnation.
2. The Chinese economy recovered by privatising agriculture and industry after the command economy lagged behind industrial production.
3. During the Command economy, there was very little international trade and very low per capita income.
4.The current Chinese economy established new trading laws and created Special Economic Zones, which led to an increase in foreign trade.

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