collected snippets of immediate importance...


Showing posts with label deng xiaoping. Show all posts
Showing posts with label deng xiaoping. Show all posts

Monday, July 27, 2009

If we look at the entire country from a distance, during the period between 1978 and 1992 there were two great sectors: a public sector that was still largely based on socialist production relations and a private sector in which family production relations prevailed. Looking a little closer, in urban areas, the public sector was dominant, with a thriving family economy at the margins, while in rural areas, the family economy was dominant, with a growing township and village enterprise sector, which harboured both socialist and small-scale capitalist production relations. This was, indeed, a non-capitalist market economy, although it was changing quickly. Since 1992, much more radical market reforms have changed everything.