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Before Deng Xiaoping's reforms, China's economy suffered due to centrally planned policies, such as the Great Leap Forward and the Cultural Revolution, resulting in stagnation, inefficiency, and poverty. [18] Prior to the reforms, the Chinese economy was dominated by state ownership and central planning.
Deng Xiaoping Theory (Chinese: 邓小平理论; pinyin: Dèng Xiǎopíng Lǐlùn), also known as Dengism, [1] [2] is the series of political and economic ideologies first developed by Chinese leader Deng Xiaoping.
Deng is remembered primarily for the economic reforms he initiated while paramount leader of the People's Republic of China, which pivoted China towards a market economy, led to high economic growth, increased standards of living of hundreds of millions, [157] expanded personal and cultural freedoms, and substantially integrated the country ...
Thursday marks the 120th birthday of Deng, who unleashed historic reforms in 1978 to allow more private enterprise and opened the economy to foreign investment, paving the way for decades of ...
The thinking was that in order to be a consumer society, China would need to be a producing society. In December 1978 at the 3rd plenary session of the 11th Central Committee of the Chinese Communist Party, Deng Xiaoping announced the official launch of the Four Modernizations, formally marking the beginning of the reform. [citation needed]
China's economic miracle started in 1978 when Deng Xiaoping launched historic reforms, allowing more private enterprises and opening the economy to foreign investment. Li was not the only pro ...
Changes in economic management were called for. The new slogan was to "make China a modern, powerful socialist country before the end of this century". Deng's speech Emancipate the Mind, Seek Truth from Facts, and Unite as One in Looking to the Future emphasized the need for major reform to implement the Four Modernizations. [4]: 160
The Four Cardinal Principles (Chinese: 四项基本原则; pinyin: Sì-xiàng Jīběn Yuánzé) were stated by Deng Xiaoping in March 1979 at the CCP Theory Conference, during the early phase of Reform and Opening-up, and are the four issues for which debate was not allowed within the People's Republic of China.