Abstract
China's opening to the outside world was perhaps the most visible of its reforms of the 1980s. China's international trade volume grew dramatically, it attracted tens of billions of dollars of foreign direct investment and it became an active borrower in international financial markets. In contrast to the pre-reform era, foreign trade grew more rapidly than the domestic economy and in some regions of the country it appeared that it had become a powerful engine of growth, accelerating not only the speed of domestic development but the pace of structural and technical transformation as well.
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