Forty years after Deng opened China, reformists are cowed
Some wonder whether Donald Trump’s tariffs might help their cause
Though it does not believe in saints, the Communist Party of China came close to canonising its former paramount leader, Deng Xiaoping, back in 2004. On the centenary of his birth, Deng—who died in 1997—was hailed as the immortal “chief architect” of reforms that had made China prosperous and strong. The eulogies had some basis. Thanks to his support for policies dubbed “reform and opening up”, Deng can take credit for a secular miracle: the greatest economic recovery in history.
With cunning and pragmatism, Deng and his aides dismantled a broken economy and dystopian society left behind by Mao Zedong. They re-awoke the country’s slumbering genius for capitalism and found a way to call it socialism, albeit “with Chinese characteristics”. By 2004 the economy was 44 times larger than it was on December 18th 1978 (see chart 1). It was on that date that
Hinter den Kulissen von Big Business.
Sie haben keinen Zugang? Jetzt gratis testen!
- Aktuelle Insider-Geschichten über Strippenzieher, Masterminds und Hasardeure sowie Trends und Analysen aus der Wirtschaft
- Jeden Monat die digitale Ausgabe des manager magazins
- Jede Woche die besten Originaltexte aus „The Economist“
- Ausgewählte Texte aus dem Harvard Business Manager
- Einmal anmelden, überall nutzen – mobil, Web, Tablet, auf allen Ihren Geräten.
- Flexible Laufzeit, jederzeit online kündbar