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DSR 11C
also set-backs, but under Chou En-lai's direction the
harm done to the Chinese economy by the Great Leap
Forward and by many of the excesses of the Cultural
Revolution was partially repaired. Chou's and Mao's
deaths were followed by the overthrow of the more
extremist members of the leadership (the Gang of Four)
and the return as Deputy Prime Minister of the highly
pragmatic Teng Hsiao-ping. The new leadership may be
subject to further changes, but its general policy seems
well established. This will give new impetus to the
long-declared aim of China's leaders of achieving
comprehensive modernisation of the Chinese economy by
the year 2000, and to make. China one of the leading
industrialised nations. Her GNP has grown by 5-6%
annually and her industrial production by 10% annually
over the last twenty years; this rate of development
is likely to continue, bringing her GNP to three times,
and her industrial production to seven times, their
present levels in the next 20 years.
External Economic Relations
4. China's foreign trade is expected to grow in real
terms at about the same annual rate as the past 20
years (5-6%), and will therefore triple over the next
20 years.. Trade will maintain about the same proportion of GNP (4-5%). Imports (from non-Communist countries).
of iron and steel, foodstuffs and fertiliser, accounting
for about 40% of total imports in 1976, are expected to
/decline
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