From Environmental Degradation To Corruption: China Paid Heavy Price For Its Economic Growth
China has emerged as the world's second-largest economy with unprecedented growth over the past four decades. But the cost of widespread corruption, environmental degradation, food security and income inequalities dominate China. According to the Financial Post report, a report from 2008 to 2012 by Professor Justin Yifu Lin, a former senior vice president and chief economist of the World Bank, described China paid a number of institutional costs for its economic success. In 1978, the situation in China was dilapidated Let us tell you that China celebrated the 40th anniversary of its transition from a planned economy to a market economy in 2018 and it was a surprise success. In 1978 the country was completely suspended from the world. It was a poor country. The per capita income here
Read More