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The Beijing Consensus (Chinese: 北京共识) or China Model (Chinese: 中国模式), also known as the Chinese Economic Model, [1] is the political and economic policies of the People's Republic of China (PRC) [2] that began to be instituted by Hua Guofeng and Deng Xiaoping after Mao Zedong's death in 1976. The policies are thought to have ...
When the Chinese Communist Party (CCP) came to power in 1949, its leaders' fundamental long-range goals were to transform China into a modern, powerful, socialist nation. In economic terms these objectives meant industrialization, improvement of living standards, narrowing of income differences, and production of modern military equipment.
Zhang Weiying, a pro-market economist in China, warned that China risks "common poverty" rather than common prosperity if it pushed too far with state control over the economy. [46] Ren Yi, an online internet commentator who writes under the name "Chairman Rabbit", said that common prosperity will allow China to better adapt to the future of ...
The Chinese economic reform or Chinese economic miracle, [1] [2] also known domestically as reform and opening-up (Chinese: 改革开放; pinyin: Gǎigé kāifàng), refers to a variety of economic reforms termed "socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) that began in the ...
He wrote that China was a socialist society, but that socialism in China was in its primary stage, [10] a Chinese peculiarity which was due to the undeveloped state of the country's productive forces. [10] During this phase of development, Zhao recommended introducing a planned commodity economy on the basis of public ownership. [10]
The effects of communist rule on living standards have been harshly criticized. Jung Chang stresses that millions died in famines in communist China and North Korea. [164] [165] Some studies conclude that East Germans were shorter than West Germans probably due to differences in factors such as nutrition and medical services. [166]
Part of a series on Communism Concepts Anti-capitalism Class conflict Class consciousness Classless society Collective leadership Communist party Communist revolution Communist state Commune Communist society Critique of political economy Free association "From each according to his ability, to each according to his needs" Market abolitionism Proletarian internationalism Labour movement Social ...
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises. [1] The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of ...