About 45 years ago, China was barely a 3rd world country. They maintained policies that kept the economy very poor and stagnant. It was also centrally controlled, vastly inefficient, and relatively isolated from the global economy. 

But fast forward to this day, and the Asian giants are up there as one of the global economy's dominant forces. 
China has been among the world’s fastest-growing economies since opening up its economy to foreign trade and investment in 1979, with real annual growth in GDP averaging 9.5% through 2018, a pace described by the World Bank as “the fastest sustained expansion by a major economy in history.” 

This change in fortune has enabled China, on average, to double its GDP every eight years literally and helped raise an estimated 800 million people out of poverty. This is almost twice the population of the United States.

But wait, they didn’t stop there; Recent data has shown China to be the world’s largest economy based on a purchasing power parity. 
This, of course, has turned China into a major commercial partner of the United States. 
But how was this possible? It's not a matter of luck, and the Chinese government is not a transparent nor honest one either. So how were they able to achieve this feat amidst all the corrupt practices of the communist party?
People believe there is something shady with China’s rise to World Dominance but is there?

In the period before 1979, under the leadership of Chairman Mao Zedong, China maintained a centrally planned or command economy. A large share of the country's economic output was directed and controlled by the state, setting production goals, controlled prices, and allocated resources throughout most of the economy. 
During the 1950s, individual household farms were collected and made into large communes. 

But there were serious troubles along the way; China's economy suffered significant economic downturns during the leadership of Chairman Mao Zedong, the most devastating one being the Great Leap Forward from 1958 to 1962, which led to massive famine and reportedly the deaths of about 45 million people.
Another crisis was known as the Cultural Revolution from 1966 to 1976, which caused widespread political chaos and greatly disrupted the economy. 

From 1958 to 1962, Chinese living standards fell by 20.3%, and from 1966 to 1968, they dropped by 9.6%.

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