There established a link between the world economy and the Chinese economy, because of the developing relations during the course of History. China was greatly dependent on Silver from Latin America but after the supply from Latin America trickled down, this trade went down. With the economy growing and laagering during the recession years has led to various economic changes in the Chinese monetary scene (Gardella, Leonard, & McElderry, 1998).
To conclude, it could be said that the Historical inheritance and culture have been both a boon and bane for the economy and entrepreneurial culture of China. On one hand because of historical dependency on power, the entrepreneurs of China could gather the courage to make a comeback after the big mess created by the Maoist. On the other hand this traditional dictatorship has made entrepreneurs very susceptible and flimsy. (Malik, 1997)