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Patrick Boyle On Finance
The Man Who Modernized China
Nov 21, 2023
This podcast explores China's economic transformation under Deng Xiaoping, the criticisms of socialism and the dual-track price system, the economic reforms and Tiananmen Square protests, and the importance of Communist Party leadership in China's remarkable economic growth.
35:34
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Quick takeaways
- China's economic growth has lifted around 800 million people out of extreme poverty, contributing to a reduction in global income inequality.
- Deng Xiaoping's economic policies, including the 'reform and opening up' policy, transformed China into the world's second-largest economy by integrating market mechanisms into the socialist system.
Deep dives
China's Role in Global Income Inequality
China's significant economic growth over the last century has contributed to a reduction in global income inequality, lifting close to 800 million people out of extreme poverty. Major policy shifts initiated by Deng Xiaoping in 1978 reshaped not just China but the world economy, with China transitioning from a poor country to the world's second-largest economy.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode