Gain Immediate access to our Essays
FREE access exchanged for your work, or pay £9.99
Words: | Submitted: Mon Jun 19 2006
... economic system was to be judged by its performance for the people: "Poverty is not socialism. To be rich is glorious." Market socialism thus took the place of pure socialism. Deng initiated three phases of reform: Phase One was designed to reform those living and working in the countryside. He put an end to the socialist principle of "to each according to his needs" through the Household Responsibility System - establishing private farming plots and sanctioning the sale of surplus production and other cash crops in newly freed markets. Most of the gains came in the first five years of reform and were achieved with existing plots of farmable land. The agricultural reforms provided the rural areas with the resources to invest in industrialization, a case similar to the Corn Laws Debate. Deng's Open Door Policy selectively invited foreigners to invest in China within four "Special Economic Zones" along China's coast. Tax incentives, ...
FREE access exchanged for your work, or pay £9.99