Word: sixtyfold
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Dates: during 1997-1997
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Economic liberalization spread through the land, sparking national growth that has averaged 10% a year for the past 18 years. Millions of Chinese go home each month with bulging wallets, accumulating private wealth in stocks, bonds and bank deposits that has jumped sixtyfold since 1980. The average per capita income last year stood at about $250, but people live far better than the number implies, since the prices of goods and services remain relatively low. The Chinese can buy cars, appliances, TVs, pagers, cell phones, computers--all the expensive gadgetry of advanced industrialism. Private enterprises have expanded to make...
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