Contemporary Controls Leads U.S. Automation Suppliers in the Race to China

4/4/2002 - In the last two decades, China has witnessed many changes including the shift toward a more market-oriented economy with long-term reforms aimed at strengthening the financial system. The Chinese leadership has increased the authority of local officials and plant managers in industry, has allowed various small-scale enterprise in services and light manufacturing, and has opened the economy to an influx of foreign trade and investment. The result has been a GDP growth of 7%making China the second largest economy in the world after the United States.

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