Saturday, October 10, 2009

Contemporary China in 60 years (1990 - 1994)

(1949 - 1954), (1955 - 1959), (1960 - 1964), (1965 - 1969), (1970 - 1974), (1975 - 1979), (1980 - 1984), (1985 - 1989)

1990: Shanghai Stock Exchange (上海证券交易所)

Inside of Shanghai Stock Exchange in 1990. Since the later years of Qing Dynasty, Shanghai has been the economic center of China. In 1990, Shanghai Stock Exchange reopened the first time after 1949. Stock exchange finally became legal in the history of contemporary China.

Despite of the failure of Tiananmen Square Protests in 1989, the economic reform in China was still irresistible. Restarting of stock exchange showed that the fundamental form of Chinese economy had changed. Stock exchange may become popular only after the regular individual citizens start to have sufficient amount of private asset. The event thus claimed the accomplishment of the first stage of economic reform in China, i.e., wealth had started to be distributed from primarily owned by the nation to the hand of private individuals.

1991: Eastern China Flood (华东大水灾)

In the picture are the flood victims.

The Eastern China flood of 1991 had many meanings from the history point of view. As the short-term impact, the event gave the world an excuse to reestablish the broken connection with China since 1989. First time ever the New China government actively called for international aid, and the world responded. It thus prepared the external environment for the official coming back of the economic reform and opening up policy in 1992. On the other hand, however, in long term the flood was a warning to China of its environmental destruction since the economic reform. How to maintain the momentum of economic growth while at the same time preserving the environment became a major challenge to China.

1992: Deng Xiaoping's Southern Tour Talk (邓小平南巡谈话)

Deng Xiaoping in his southern tour of China, visiting Guangzhou, Shenzhen, Zhuhai in 1992. During the tour, he reclaimed that the economic reform and opening up was the fundamental policy of China.

"To Get Rich Is Glorious". This was the consequence of Deng's talk. The tour and talk thus unleashed a wave of personal entrepreneurship that continues to drive China's economy today. After this important tour and talk, China inevitably came back to the pre-1989 route in the facet of economy.

1993: Jingjintang Expressway (京津塘高速公路)

In picture is part of the Jingjintang Expressway.

"To get rich, construct road first." The finishing of Jingjintang Expressway, the first-ever expressway in China, in 1993 declared the beginning of an era of China when the entire nation was engaged to a huge tide of fundamental construction. In order to keep the rate of economic growth in high speed, a large number of high quality roads and buildings are prerequisite. It was this tide of nation-wide fundamental construction that provided the objective environment for the economic miracle in China in the following decade.

1994: China access to the Internet (中国接入互联网)

On April 20, 1994, the Chinese Academy of Sciences (CAS) Institute of High
Energy Physics (IHEP) built the first cable connected to the Internet,
realizing e-mail communication with North America and Europe.

This remarkable moment represented that China was integrated into the world. Internet broke the traditional boards between nations and allowed Chinese to access foreign information more freely. Since then, Internet and World Wide Web rapidly spread over the nation. Until now, China has become the nation that has the greatest number of Web users.

1 comment:

brain training pc said...

"murdoch madness@, what an excellent phrase! I must borrow that.