The Historic Economy of China

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This is China: the second-largest economy in the world, home to the largest population in the world, and the most aggressive economic expansion in modern history.

Most people watching this video now would have seen China go from a collection of mostly peasant farmers into the economic powerhouse it is today within their lifetimes.

The economic development of China has amongst other things also contributed heavily to the massive drop in absolute global poverty we have seen today.

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📚 Want to learn more about the economy of China? We recommend reading "Understanding China: A Guide to China's Economy, History, and Political Culture", by John Starr

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Sources & Citations -

Nee, V., 1992. Organizational dynamics of market transition: Hybrid forms, property rights, and mixed economy in China. Administrative science quarterly

Chai, J.C., 1998. China: Transition to a market economy. OUP Catalogue

The annual data of China's GDP published on China NBS: National data – annual – national accounts – Cross Domestic Product Archived 14 June 2018

Chi-Yun, C.H.E.N., 2005. Han Dynasty China: Economy, Society, and State Power--A Review of Cho-Yun Hsu, Han Agriculture: The Formation of Early Chinese Agrarian Economy

Cheung, Y.W., Lai, K.S., and Bergman, M., 2004. Dissecting the PPP puzzle: the unconventional roles of the nominal exchange rate and price adjustments. Journal of International Economics

Schurmann, F., 1973. Ideology and organization in communist China. Univ of California Press

Chang, J.K., 1969. Industrial Development in Pre-Communist China: A Quantitative Analysis. Aldine Publishing Company

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[EconomicsExplained]

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See new videos early, participate in exclusive Q&As, and more!

[atSLASHY]

Everyime you said "30 years ago" i think 1970. I'm 20.

[Jgvcfguy]

Many European wars and the driver for exploration was them just trying to get better trade routes to China.

[jacobarmour]

*The rise and fall and rise and fall and rise and fall and rise and fall and rise and fall and rice of china*

[Fromagorat]

Yes, a person from Rome is a Roman, but local custom says you are only truly Roman if your family has been here for at least 7 generations

[VadymSkl]

In regard to your “Roman” question yes, people in Rome do call themselves Romans.
It might sound strange for someone from the “New World”, so to speak, but in Europe and Italy in particular that’s the norm. In large part that’s due to the deep rooted history and particularism that exists since Medieval times.
It’s not even limited to big cities, the town you come from, however small, is an integral part of your identity. And sometimes even the neighborhood!

[godessworshipper]

One of your statement is wrong, I can tell you every single Chinese citizen who have been to middle school knows who is Napoleon. The Chinese learnt the most famous foreign figures in their world history. The Chinese know much more about the West than the opposite.

[psrulesDD]

WOW. what a fair and unbiased summary of the economic history of China

[zerrieful]

Just to correct one line in the video: "most Chinese students wouldn't even know who Napoleon was". Almost every Chinese student knows who Napoleon was from their history textbook.

[quakquak]

Italy has been historically divided into smaller nations for a lot of time, so every region and every city has developed its own culture and distinct dialect (which are actually different languages, but they're becoming normal dialects as italian has become more and more common in the last century), so people identify with their region and even their city, romans call themselfs romans, I think.

EDIT: I should have said that this division is for the most part not much more than an inside joke, like we joke about our differences and so on but we identify as italians at the end of the day, still it's not uncommon to hear someone say they are from a certain city, like in this case saying "I'm roman"

[Myname-cbru]

In Italy people do call themselves by the city and region they are from, especially since all the regions essentially speak different languages. For example, I am a neapolitan

[Lotus.F]

China has been a superpower in most of ancient times, eg, just their palaces are many times larger than any palaces anywhere in the world not to mention their armies.

[iloveyouhamburgers]

I cite: "There were decades in Chinese history when the rate of recorded peasant uprisings was roughly 1.8 per hour (!). What’s more, such uprisings were frequently successful. Most of the most famous Chinese dynasties that were not the product of barbarian invasion (the Yuan or Qing) were originally peasant insurrections (the Han, Tang, Sung, and Ming). In no other part of the world do we see anything like this. As a result, Chinese statecraft ultimately came down to funneling enough resources to the cities to feed the urban population and keep the nomads at bay, without causing a notoriously contumacious rural population to rise up in arms. The official Confucian ideology of patriarchal authority, equal opportunity, promotion of agriculture, light taxes, and careful government control of merchants seemed expressly designed to appeal to the interests and sensibilities of a (potentially rebellious) rural patriarch." From Graeber his book Debt. In the notes: "According to Parsons, during the period 1629–44, there were as many as 234, 185 insurrections in China, averaging 43 events per day, or 1.8 outbreaks per hour” (Deng 1999:220)"

[JerkandDork]

"Roman" is often used as an ethnic term and yeah people from Rome or even outside of Rome may call themselves Roman (not to be confused with Romani).

[vallalavinay]

Glad you are making this series. We should understand China better.

[ConnorNolan]

"Everybody in America is racist, and everybody in China is Chinese." -Dave Chapelle on the economic parity of modern superpowers

[Lweiwei]

One thing to note is that China was not always ruled by the Hans. For example, during the Yuan dynasty, China was ruled by Mongols, and during the most recent Qing dynasty, China was ruled by Manchus.

[o-taco]

Europe: Copies Ancient China's Technology and abuse them*
Modern China: *UNO reverse card*
Modern Europe: *:O*

[btakesa]

Thank you very much for the excellent background music. Finally someone who knows how to apply his craft, and support the main theme. The music and volume were just perfect, fitted the story line all the way. Bloody good mate.

[Lweiwei]

The song used at the start is called 手掌心 （丁当）, "Heart of Palm" by Della