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Emancipation
“Reform and opening” started from the top with the seminal leadership transition from Mao to Deng. Deng Xiaoping heralded China’s boom in late 1978 when he called for experiments with “economic democracy” and “emancipation” from orthodox ideas. But the boom was not simply a top-down, state-orchestrated phenomenon. In fact, the biggest contribution of the state, especially in the first phase of growth, was to get out of the way. Farmers were liberated from collectives, sparking a wildfire of capitalism in the countryside. Urban markets and industry were freed to “grow out of the plan,” making profits on surplus production and creating powerful incentives for rapid growth. |
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Shenzhen Was a Small Fishing Village BeforePeriod: Emancipation (1978-84)
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Click to expand When I was young, I went to boarding school. And I went home once a week. My mother would give me 1 yuan every week as my living expenses. Now it is hard to imagine living on a budget of 4 yuan per month. But back then in 1979, no one could have ever imagined what China is like today. After the Third Plenary Session (of the 11th Central Committee of the CPC) in 1979, my hometown, Jiaxing City in Zhejiang Province, has changed so fast. And I could feel the changes intimately. Many of my relatives and former schoolfellows started their own businesses. Some started out by running a family business. In early 1980s, many new houses and buildings started to appear. And more people became rich. Of course there were some irregularities in the market, too, which did happen. The 80s witnessed a boom of small private businesses. But nobody was sure of what would happen next. I have to say that Deng Xiaoping made a really sagacious decision. He chose Shenzhen, which was only a small fishing village neighboring Hong Kong,to build a special economic zone. The decision was wise, because even if the policy failed, the country wouldn’t have too much to lose. But if it succeeded, then Shenzhen would set a vital example for China's economy. And it did succeed. China is a policy-oriented state; with supporting policies Chinese people have more confidence. So after the central government acknowledged and praised Shenzhen's achievements, Chinese people became more encouraged to do business.
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