Short version: he opened china to investment from western capital. The plan was to use western capital to fund the construction of factories with the condition of technology sharing. Gambit was capitalism would willing sell all of its advantages in order to gain profit. The risk being that capitalists would have sway in China (and leftists constantly purity testing China).
Yeah that, and to expand a little, he was often derided by hardliners for being a sellout, and the plan to develop productive forces in China had some close calls from a full capitalist restoration. It seems to have worked out so far however, since the PRC was originally an impoverished pariah state, and now it is more advanced in many respects than the west. The work that needs to be done now is to take the productive forces that the capitalists gleefully supplied in exchange for cheap labour and turn it towards domestic production and consumption.
Short version: he opened china to investment from western capital. The plan was to use western capital to fund the construction of factories with the condition of technology sharing. Gambit was capitalism would willing sell all of its advantages in order to gain profit. The risk being that capitalists would have sway in China (and leftists constantly purity testing China).
Thanks!
Yeah that, and to expand a little, he was often derided by hardliners for being a sellout, and the plan to develop productive forces in China had some close calls from a full capitalist restoration. It seems to have worked out so far however, since the PRC was originally an impoverished pariah state, and now it is more advanced in many respects than the west. The work that needs to be done now is to take the productive forces that the capitalists gleefully supplied in exchange for cheap labour and turn it towards domestic production and consumption.