Three Major eras in modern Chinese history
1) Mao Zedong -- a Communist who was completely against capitalism 1945-1959
1934-35 Long March 4000 miles -
being chased by Chiang Kai-shek's Army
crossed 24 rivers and 18 mountain ranges
In 1949 Chiang Kai-shek was defeated and moved to Taiwan
Great Cultural Revolution 1966-1976 - very brutal on capitalist
farms and industry were collectivized - a disaster
2) Deng Xiaoping - introduced privatization and capitalism to China 1978-1989
Broke up collective farms and companies
Very few controls on companies
Economy Grew, but so did corruption and pollution
3) Xi Jinping -- Socialism With Chinese Special Characteristics -- 2012 -
Recently at the 19th Party Congress
The party constitution was amended to put:
Xi Jinping's Thoughts --- on same level as Mao & Ding
"New Era of Socialism With Chinese Special Characteristics."
Government owns many companies
Taking Part ownership in many others
Communist Party cells in each company
But never-the-less companies seem to be prospering
GDP growing at about 7 or 8 percent
For better or worse - China is changing
Xi Jinping is a historic, epoch-defining leader