Episode 34 of 100 · 5-Minute Videos
China Returns to Mao
Economics · Economics — Economics & Financial Literacy · History · Financial Literacy · Captions
About This Video
In the decades following the death of Mao Zedong, China enjoyed relative economic freedom and unprecedented growth. But under Xi Jinping, Mao-like government control has made a comeback, weakening China’s economy. Helen Raleigh explains how socialism is once again failing China.
Standards Met in Ohio
- 6.E.15Grades 6thThe interaction of supply and demand, influenced by competition, helps to determine price in a market. This interaction also determines the quantities of outputs produced and the quantities of productive resources (entrepreneurship, human resources, natural resources and capital) used.
- 6.H.2Grades 6thEarly civilizations (India, Egypt, China and Mesopotamia) had unique governments, economic systems, social structures, religions, technologies and agricultural practices and products. The cultural practices and products of these early civilizations can be used to help understand the Eastern Hemisphere today.
- 9-12.EFL.4Grades 9th, 10th, 11th, 12thDifferent economic systems (traditional, market, command, and mixed) utilize different methods to allocate limited resources.
- EFL.9-12.4Grades 9th, 10th, 11th, 12thDifferent economic systems (e.g., traditional, market, command, mixed) use different methods to allocate limited resources.
- EFL.9-12.4.aGrades 9th, 10th, 11th, 12thCompare and contrast the different economic systems (e.g., traditional, market, command, mixed).
- EFL.9-12.4.bGrades 9th, 10th, 11th, 12thIdentify the different economic systems (e.g., traditional, market, command, mixed).
- EFL.9-12.4.cGrades 9th, 10th, 11th, 12thIdentify an economic system.
- EFL.9-12.4.lp.bGrades 9th, 10th, 11th, 12thUnderstand that a mixed market includes elements of a market system and command economic system.
- EFL.9-12.4.lp.dGrades 9th, 10th, 11th, 12thUnderstand that a market economic system uses individual choices of buyers and sellers to distribute resources through supply and demand.
- SS.6.15Grades 6thThe interaction of supply and demand, influenced by competition, helps to determine price in a market. This interaction also determines the quantities of outputs produced and the quantities of productive resources (e.g., entrepreneurship, human resources, natural resources, capital) used.
- SS.6.2Grades 6thEarly civilizations (e.g., India, Egypt, China, Mesopotamia) had unique governments, economic systems, social structures, religions, technologies, and agricultural practices and products. The cultural practices and products of these early civilizations can be used to help understand the Eastern Hemisphere today.