China's economic rise
Eight hundred million people leave extreme poverty in forty years.
- When
- —
- Duration
- 42 years
- Known to
- ± 1 year
- Era
- Contemporary, Holocene
Deng's reforms from 1978 decollectivise agriculture, permit private enterprise and open special economic zones. Growth averages close to ten per cent a year for three decades. China joins the WTO in 2001 and becomes the world's largest manufacturer and trading nation. The reduction in extreme poverty is the largest and fastest in recorded history, and it accounts for most of the global decline in that measure.