jan 1, 1978 - Reform And Reopening

Description:

After years of all means of production being owned and controlled by the government, Deng Xiaoping pushed for a more capitalist economy, in hopes it would boost the countries financial status. This practice boomed, and under authoritarian capitalism, farmers were able to produce more food than had ever been possible in communes. modernizaton progressed throughout all levels of china, and it was then viewed as glorious to get rich. As large growth happened under this new system, China has now become one of the largest economic powers in the world.

Added to timeline:

Date:

Images: