Abstract
The establishment of the People’s Republic of China in 1949 appeared to represent a great opportunity for China in the remaining half of the 20th century. The nation was essentially united and the central government was enjoying firm authority over and loyalty from its subjects. Foreign special privileges, in place for 100 years, were eradicated. Racial conflicts were no longer the main issue since the top leaders were mostly Han Chinese. China seems to have got what it had desperately wanted for a long time: maintaining a national consensus and enjoying a peaceful domestic environment. It had a common set of values — eliminating foreign exploitation, scientific and technological development as a means of achieving national independence, and enriching people’s economic life and social welfare. These values were the result of one hundred years of foreign influences and Chinese nationalism. But history proves that China failed to exploit this opportunity for rapid economic development.
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