{
  "id": "97-932",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "97-932",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 103545,
      "date": "1997-10-10",
      "retrieved": "2016-05-24T20:57:25.960941",
      "title": "China's Economic Development: An Overview",
      "summary": "Since the initiation of economic and trade reforms in 1978, China has been one of the world's\nfastest growing economies. According to Chinese data, real GDP grew at an average annual rate of\n10% between 1979 and 1996, increasing the real size of the Chinese economy by five times its 1978\nlevel and substantially raising Chinese living standards. Much of China's recent economic growth\nhas been driven by a high rate of capital accumulation and large productivity gains, both largely the\nresult of economic reforms. Foreign investment and trade have played a major role in China's\neconomic growth. U.S.-China commercial relations have sharply expanded; China is now the 4th\nlargest U.S. trading partner. Many analysts predict that China's economy will likely continue to\nexperience rapid growth in the near future, especially if economic reforms are expanded and\ndeepened. As a result, the importance of China as a U.S. trading partner could be greatly enhanced.\nU.S.-Chinese economic relations have been a major issue in the annual congressional debate on\nextending China's most-favored-nation (MFN) status, as well as congressional oversight of the\nAdministration's policy towards China's application to join the World Trade Organization (WTO).",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
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          "url": "http://www.crs.gov/Reports/pdf/97-932",
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          "images": null
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      ],
      "topics": []
    }
  ],
  "topics": [
    "Economic Policy",
    "Foreign Affairs",
    "Industry and Trade"
  ]
}