How the country could grow so rapidly what will happen now that growth is slowing down and the impact of the trade war with the United States but 1st lets take a quick look back at 70 years of economic development. Back in 949 when the communists people so public of china was founded the country was dirt poor poorer than many african nations 70 percent of the population up peasants and day laborers getting by on an income of just 57. 00 per year in a mostly agricultural economy common is possibly the most it owns reforms in the 1950 s. Nationalized industry and distributed land from the wealthy to the countrys poor but those policies let the country into chaos the communist reforms were the main cause for widespread famine that killed millions of people and displaced many more millions more died in a wave of terror and in communist reeducation camps after mouse deaths in 976. 00 chinas next leader things up paying introduced some reforms that opened the economy is policies brought chin