feb 28, 1978 - Free Market Reforms Begin

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Starting in 1978 just two years after Mao Zedong's death. These reforms would be enacted by Deng Xiaoping who would take leadership after Mao Zedong's death. These reforms would be enacted over a period between 1978-1984. It first started with breaking up collective farms and allowing families to manage their own plot of land. They also started to allow for the very first time, small private businesses to operate and also allowed small foreign investments in specific zones where there was deregulation. These reforms were a massive success and Deng Xiaoping would soon enact more reforms.

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