The Great Leap Forward, initiated in 1958, had a profound and largely negative impact on China's economy. It aimed to rapidly transform China from an agrarian society into a socialist society through rapid industrialization and collectivization. However, the policies implemented during this campaign resulted in widespread economic disarray, including severe disruptions in agricultural production, leading to a catastrophic famine that caused millions of deaths.
The best assessment of its impact is that the Great Leap Forward hindered China's economic development, caused significant human suffering, and set back agricultural and industrial growth for years, resulting in a more cautious approach to economic planning in subsequent decades. Ultimately, it exposed the dangers of overly ambitious, centrally planned economic policies without consideration for local conditions and sustainable practices.