The Economic Reform (Deng Xiaoping)

Deng Xiaoping's economic reform, launched in the late 1970s, transformed China from a centrally planned economy to a more market-oriented system. He reduced state control, encouraged private businesses, and opened China to foreign investment and trade. These changes led to rapid economic growth, increased production, and improved living standards. Deng's reforms focused on practical development goals rather than ideological purity, emphasizing pragmatism to modernize China’s economy while maintaining political stability. This shift marked the beginning of China's emergence as a major global economic power.