Deng's+Economic+Policies+&+Four+Modernizations

Deng's Economic Policies and Four Modernizations Economic Policies:
 * Deng’s plan to reform agriculture, industry, defence and education
 * these plans were accepted by the Third Plenum of the Central Committee of the CCP in 1978
 * was the basis for China’s development
 * result: between 1978 and 1989 exports grew by 500 % and foreign investment in China quadrupled
 * reforms:
 * agriculture: end of commune, return of //xiang// (there is still specific amount of food that needs to be produced but any surplus produces can be sold by the peasants for their own profit)
 * industry: “hands off”-policy (government not totally detach, but much greater freedom for mangers and experts); open China to foreign trade; allowing co-operation with foreign businesses; creating Special Economic Zones (SEZ), which were given regional autonomy and granted special tax concessions and finanical freedom
 * education: more and larger universities for scientific education; plan was to train millions of Chinese students to become managers and administrators for new economy; studying abroad was promoted so Chinese would get insights in Western technology and industry expertise
 * Free-market economy, with a communist government