PRC

People’s Republic of China was established in 1949 after a near complete victory by the Communist Party of China in the Chinese Civil War which lasted four years. Since then PRC has for been synonymous with China.

PRC experienced 17 years of economic growth since its birth, despite the facts that it had three years Korea War with US and UN troops, a series of political campaigns, a major economic mistake – the Great Leap Forward and a Great Famine which lasted three year with a huge live lose of over 20 Million people.

To impose social orthodoxy and rid China of “old elements”, and at the same time serving certain political goals, Chinese leader Mao Zedong began the Cultural Revolution in 1966. The campaign was far reaching into all aspects of Chinese life. Many prominent political leaders were purged, education came to a nearly complete halt and the Chinese economic was totally ruined. The campaign would not come to a complete end until the death of Mao in 1976.

In 1978, China started her new long march on Economic reform and openness and has experienced near three decades economic growth. As an emerging superpower and with over 1.3 billion people, the People's Republic of China has become an immensely important factor in the world's future.