Evil Capitalism:
The People's Republic of China's development from one of the poorest countries to one of the largest economies was the quickest of any country.[84]: 11 From 1949 until the Chinese economic reform in 1978, the economy was state-led with market activity remaining underground.[85] Economic reforms began under Deng Xiaoping.[85] China subsequently became the world's fastest-growing major economy, with growth rates averaging 10% over 30 years.[86][87] Many scholars consider the Chinese economic model as an example of authoritarian capitalism,[88][89] state capitalism[90] or party-state capitalism.[91][92]
China has sustained growth due to export relations, its manufacturing sector, and low-wage workers.[8] China's was the only major world economy to experience GDP growth in 2020, when its GDP increased by 2.3%.[93]