How Did Deng Xiaping Influence The Development Of China's Economy

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China has the second largest economy in nominal GDP and has made powerful impacts on the global markets in modernity. However, China's economy stagnated for a long time due to the weakness of industries and a failure of Mao Zedong's The Great Leap Forward campaign as well as the cultural revolution. (The Western economies experienced the Golden Age(Pax Americana) in 1950s and 1960s that they could achieve (satisfactory)an economic growth.) The world economy suffered from a serious economic stagnation due to the Nixon Crisis and the oil crises. After the Nixon Crisis was happened, the U.S. centralizational structure was ended. The U.S., the Western Europe and Japan constituted the trilateral structure.(until the late 1980s) (China's economy …show more content…
) After Mao' death, post-Mao promoted an economic reform under Deng Xiaoping to step up China's economy. Due to less developments and a failure of the Great Leap Forward, China lost their dominance power in Asian countries. [The most closest country from China was(is) Japan had been developing dramatically after they lost the World War Ⅱ, which was called Japanese miracle. Japan became the second economic superpower following the U.S. in 1968.] China was hasty (hastened) to catch up with their economy to other countries because their current situation was left behind. Deng Xiaoping was more realist and pragmatist than Mao Zedong. In carrying out an economic reform, he didn't (capture) communism and rules. Cat's color theory represented his ideology that "It doesn't matter whether a cat is black or white, as long as catch mice." Deng Xiaoping carried out an economic reform flexibly based on situations and results. His major contributions to raise China's position in the world were developments of foreign businesses (including trading) and agriculture system. [ Before Deng Xiaoping came back to the position, China focused on (heavy manufacturing industries) during Maoism, but it didn't effect because of less productivities, investments as well as agriculture. [In agriculture aspects, the people's commune combined 2000-4000 families into collective farming ] that (hindered) worker's (peasants) motivation because workers received equal wages even if they worked hard. (didn't reward their efforts) Less communications with foreign countries led China to realize their current situation more late. China closed their foreign trading longer than Japan that they had limited markets. Mao left the situation that China was still a developing country with low wages, but the communist party (itself), self-reliance and revolutionary ideology were the most successful legacies in Maoist
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