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COMMUNISM WITH A

CAPITALIST FLAVOUR
Mao's Programs

Programs Results
First Five Year Plan  1953 -1957 • Industry grew 15% per year
Quotas set for industrial output •Agricultural output was
Farmers encouraged to work neglected and grew very slowly
collectively
Great Leap Forward  1958 – 1962 •China suffered economic
‘Neglected modern technology in disaster with mass decline in
favor of small scale industries industry and huge food
with “home made” equipment shortages
Creation of communes
COMMUNISM WITH A
CAPITALIST FLAVOUR
Mao's Programs

Programs Results
Cultural Revolution 1966- • Thousands of intellectuals
1976 verbally attacked and
Designed to appeal to physically abused
Chinese Youth and a turning •The people start to lose
point away from the Soviet faith in the Communist Party
Model. •Industrial production drops
Idea of making education, by 12%
health care and cultural
system less elitist
It was also a period of mass
persecution as the students
formed themselves into
COMMUNISM WITH A
CAPITALIST FLAVOUR

1979-
1989

Deng Xiaoping, the


new leader of China,
disbands communes,
allows farmers to
freely sell their
products and
introduces profit
incentives for
factories. It is called
"Socialism with
Chinese
characteristics“.
COMMUNISM WITH A
CAPITALIST FLAVOUR
Decentralization of Chinese economy under the
government of Deng Xiaoping:

Food and industrial production grew by 6% GDP


per capita
 Price liberalization in the domestic market
 Relaxation of government control and central
planning
Privatization of state-owned enterprises
COMMUNISM WITH A
CAPITALIST FLAVOUR
1992

The 14th Party


Congress comes up
with the formula:
"Socialist Market
Economy“. From
now on, making
profit is OK.
COMMUNISM WITH A
CAPITALIST FLAVOUR

1997

The British
colony of Hong
Kong is
returned to
China.
And Taiwan
worries: «Will
we be next?»...
COMMUNISM WITH A
CAPITALIST FLAVOUR
1997

The 15th Party Congress reveals its plan to sell most state-
owned industries. In a word: privatization!
Tens of millions of workers are to be laid off with no social
protection.
Is this socialism - or capitalism?
COMMUNISM WITH A
CAPITALIST FLAVOUR
1999

China and the US


reach a deal on
trade, paving the
way for
Beijing's entry
into the Wolrd
Trade
Organization.
COMMUNISM WITH A
CAPITALIST FLAVOUR
2000

The U.S. Senate passes a bill to remove


restraints on trade with China.
Hello WTO
COMMUNISM WITH A
CAPITALIST FLAVOUR
More than 70 per cent of
the commodities sold in
Wal-Mart are made in China
According to World Bank, by
2010 50% of clothes will
have the tag “Made in
China”