oct 26, 1978 - Open Door Policy
Description:
China engaged in expansive economic reforms from late 1978 to reassert their dominance in the global economy. As quoted from Deng Xiaoping who initiated the reforms, the goal was to develop “Socialism with Chinese characteristics.” This resulted in a complete transformation of the Chinese economy from one which had virtually no market forces to one where market forces played a dominant role in economic affairs.
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Economics
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