Economic History of China

Pomeranz talks about the economic history which was very important. Many authors have come out to challenge China on the industrial revolution. It is argued out that the situation at Yangzi and the Pearl River deltas in the year 1750 were not that worse when compared to other developed areas that are in Europe (Pomeranz, 2000). This is how divergence came about. The industrialization in China was very slow and its market expansion took so long to grow and get to where the other nations were. In China, the Smithian dynamics also did work as it was in other countries. In this case, they did not transform the basic possibilities. Most of the highly developed areas in China faced challenges in resources. The population growth however increased as a result of these. Industrialization did not just come automatically. The people of a country were the ones responsible for the growth of a region based on the efforts that they put in place. Most of the regions in China were just the same as the European mainland that brought about the mechanized industrialization. After some time this somehow did not work out slowly. The argument is that most of the regions of the regions of China back then did divert away from focusing on the strong blockages and the developmental blind alleys. According to Professor LiBozhong, he suggests that the economy should be challenged basing his views on the Qing Empire that existed from 1644 to 1911. It was termed to be the world’s largest national economy that ever existed. When it came to the 18th century when the industrial revolution began things changed and the population increased. During the 17th and the 18th century and there was a decrease per capita income.

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