Performance and Limitation of Traditional Economic Changes in China

China's traditional economy consists of agriculture, handicrafts and commerce. Among them, agriculture is the mainstay, and it is a self-sufficient small-scale peasant economic model.

After the Opium War, China was involved in the capitalist world market, and a large number of cheap foreign industrial products poured in, which made the traditional handicraft industry bankrupt and the natural economy began to collapse gradually. Then modern enterprises appeared, capitalism emerged, and the economic structure changed.