Deng Xiaoping : The Paramount Leader Of China

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Deng Xiaoping Deng Xiaoping became the paramount leader of China in 1978 after the death of Mao Zedong, the founder and chairman of the Communist Party of China, in 1976. He was able to become China’s de facto leader despite never actually holding the position as head of the Communist Party. Xiaoping formed a strategy that is referred to as Socialism with Chinese characteristics, in reference to the cat theory and stone theory, which allowed the Chinese economy to flourish and also increased the standard of living for millions of Chinese citizens. While originally deemed as a supplement to the state owned economy, the reform removed restrictions on the private sector, which today represents about 60% of companies in China and creates 6 million new jobs per year. Some drawbacks to the opening up of the private sector are the increase in corruption and counterfeiting of products. Xiaoping’s reforms also privatized the agricultural sector in China, which boosted food production and industry in the rural areas. Xiaoping also helped to advance relations with modernized countries such the U.S., Japan, and France. Dual Track System A dual-track economic system was implemented during the rule of Deng Xiaoping in order to move China’s economy from a state planned system to one that is market driven. In the state planned system the prices of goods and production quotas were set by the government in the sectors that they controlled, while at the same time allowing the sale
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