Over the last 23 years China’s GNP has increased sevenfold. In terms of purchasing power parity (PPP), China is number two in the world, and it has the sixth largest volume of external trade. In 2002, China was the leading recipient of foreign investment. These impressive figures are behind the widespread view that the country is experiencing an “economic miracle”. The special features of Chinese culture, and the former system of socialist planning, are additional factors in the mystery of th...
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Arvanitis et al. (2003) studied this question.
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