1. History
1.1. 1949–1978
1.1.1. China followed a socialist heavy industry development strategy, or the "Big Push" strategy.
1.2. 1978–1990
1.2.1. China began to make major reforms to its economy.
1.3. 1990–2000
1.3.1. In the 1990s, the Chinese economy continued to grow at a rapid pace, at about 9.5%, accompanied by low inflation.
1.4. 2000–2010
1.4.1. China launched its Economic Stimulus Plan to specifically deal with the Global financial crisis of 2008–2009.
1.5. 2010–present
1.5.1. By 2010 it was evident to outside observers such as The New York Times that China was poised to move from export dependency to development of an internal market.
1.6. Timeline
2. Market Economy
2.1. What is market economy?
2.1.1. An economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses and there is little government intervention or central planning. This is the opposite of a centrally planned economy, in which government decisions drive most aspects of a country's economic activity.