9 Jan 1980 Jahr - Deng reforms industry

Beschreibung:

Deng believed China's economy would benefit by adopting a number of capitalist practices, such as allowing private profit and foreign investment. However production still remained slow in the SOEs, as workers were unhappy that they were no longer guaranteed wages..

Deng adopted an open door policy for trade, and encouraged competition with foreign companies as a way of helping Chinese businesses to produce goods of a higher quality.

Deng introduced SEZs where they could easily access the market's in Hong Kong and Taiwan. Foreign investment in export industries was so successful that Deng allowed it in home industries in 1984. China's export trade grew by 500%.

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