RAYC - A look back at China's economy as Communist Party marks centenary

Andrea Verdelli/Getty Images News China today celebrated the ruling Communist Party's centenary with a big show in Tiananmen Square. Saber-rattling by President Xi Jinping also made some news after he warned that bully nations will "get their heads bashed in," hailed a "new world" and committed to the "reunification" of Taiwan and grip over Hong Kong. While there's plenty of geo-political headlines that can be written about the event, let's take a deeper dive into the Chinese economy and its history. Backdrop: While the People's Republic of China was founded in 1949, the Chinese Communist Party was formed nearly thee decades earlier in 1921. At the time, there was a lot of global upheaval and Chinese young people were heavily influenced by Marxist thinking and workers' rights. In the early years, Chairman Mao launched various socio-political and economic campaigns, such as the Great Leap Forward in 1958 and Cultural Revolution

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A look back at China's economy as Communist Party marks centenary