Why did China industrialize so late?

The want of potential customers for products manufactured by machines instead of artisans was due to the absence of a “middle class” in Song China which was the reason for the failure to industrialize.

What is one major reason why China experienced rapid industrialization in the late 20th century?

We see industrialization in China the last 150 years as an ongoing process through which firms acquired and deepened manufacturing capabilities. Two factors have been consistently important to this process: openness to the international economy and domestic market liberalization.

How did China succeed?

China succeeded by creating its own model. It borrowed some Western ideas while rejecting others. It opened itself to the world when necessary, and put on the brakes when it chose to. It set goals and backed them with government money.

Why did war break out between Britain and China?

The Opium War broke out between China and Britain when the British tried to make the trade of opium legal in China, against their will. China did not want the drug to be traded and wanted to stop the trade at any cost.

Why industrial revolution did not happen in India?

With its high population Indian merchants could still make a lot of profit without all the machinery, so the things kept going the way they used to. The social, economic and environmental conditions in India were not ideal for an Industrial Revolution.

Why is communism failing in India?

Also Communists are taking to violence which the people in India do not relish. The spate of killings of innocent RSS workers has put the onus on Communists. All these are unnecessary. Hence communism is declining and declining fast. It’s failing because of their double standard and copy cat approach.

Are Indian youths no longer attracted to communism ideology?

Indian youths are no longer attracted to communism ideology. Indias have now relaized that even though they don’t want pure Capitalism, there are hardly any merits in Communist ideology. Another blow has been emergence of caste based parties after Mandal Era.

Why can’t communism succeed?

Communism, or socialism, couldn’t succeed, Mises wrote in 1920, because it had abolished free markets so that officials had no market prices to guide them in planning production.

How do China and India’s economic reforms compare?

India’s reforms have scaled back state-run industries, while China’s reforms have created a pseudo-free-market command economy. India has courted the capitalist West while China has tried to counter it. Looking at how China and India have been simultaneously so successful yet maintained their differences can shed light on the “why.”

https://www.youtube.com/watch?v=goUBuAWO7Xc