China's Economic Growth Driven Reform Strategies 1978 - 2010: Any lessons for Nigeria?

Abstract

China's rapid economic transformation over the past thirty years has come as a
surprise to many considering the previous condition of the country. This has resulted
mainly from China's open door policy, adopted in 1978, thus facilitating massive
inflow of foreign direct investments (FDJ) into its manufacturing sector. China's
manufacturing sector continues to churn out complex export products that have
created an unprecedented export-led growth. China's experience, especially when
compared with other developing economies, is exemplary. This is unlike Nigeria's
resource-driven economy, where even the meagre FD1 that comes in is channelled into
the oil industry, while manufacturing production receives limited attention. The article
highlights the lessons that Nigeria could learn from China in view of the similarities
between the two countries