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China and Globalization - Essay Example

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In what ways did he draft the modernization of China? To what extent, do you agree with his views on state role and market role in the state capitalism of China?
The Third Plenum, which signaled the rise of Deng…
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China and Globalization

Download file to see previous pages... Hence, regardless of the final outcome, the Third Plenum and its aftermath represent a defining moment in the history of the economic modernization of China.
At first, Deng supported modernization with negligible central involvement so as to eliminate the barriers created by centralization, which had pushed China to its 1978 crisis. Eventually, the emphasis remained on modernization, yet with centralized macro-control. Deng had successfully loosened the grip of central planners, who had attempted to diminish, disrupt, and unsettle his Western-based market socialism (Zhang 38). Deng’s approaches to economic modernization were rooted in the idea that the inflexibility of Mao Tse Tsung’s economic policy should be abandoned. Mao Tse Tung enforced balancing socialist ideals in a state of China’s historical economic retardation. Thus, the emerging status of China as a global leader started with the vision of Deng Xiaoping when he became the Communist Party’s frontrunner in 1978 (Waters 2).
With Deng’s rise to power, China started its journey toward global leadership. On the 10th of October 1978, Deng tersely discussed one facet of his agenda for China. To progress, he thought, China had to attain what he referred to as the four ‘modernization’—modernization of science and technology, national defense, agriculture, and industry (Waters 2). He believed that China should gain knowledge of other countries’ best practices and acquire massive foreign support. As a point of departure for progress, he supported the launching of latest technology and facilities as created by other countries. Deng’s recommendation, especially with regard to gaining knowledge from other countries and launching cutting-edge technology, is still considered by incumbent Chinese leaders (Zhang 44).
On the 23rd of October 1985, Deng stressed to his government officials that nothing separates a market ...Download file to see next pagesRead More
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