Re-do China Economic Boom

In 1978, China had a great reform from the government. They are trying to make big change in their nation. It makes encourage to enterprises, private businesses, foreign trade, and investment to other countries. These all programs had been successful and worked well. Before 1978, the China's economic were only growing by 6 percents in a year, but after the program they grew up 9 percents in a year in 1978. This growth is huge if you compare to other countries as Hong Kong and Korea that they are only growing 7 percents in a year in 15years. After few years they grew 13 percents and grew fast in these days. The few analysts are said that they might become lagers economic country than the United States in 20 years.

The people are curious that why are they have been doing well. IMF (International Monetary Fund) researched and had a great result. China made lots of new factories and communications systems and these expedited China's economic and become very significant part in China's economics. The cheap Chinese workers also become important part in driving force for economic boom. In 1979~1994, the China's economic increased over 42 percents of growth and in 1990 they increased more. This huge jump is from economic reforms in 1978 and it became huge parts in the China's economic boom.

Link: http://www.imf.org/external/pubs/ft/issues8/index.htm

Another question:

What does the United States have to do to compete with China?