Econ FINAL part 2
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What happened in stage 1 of Deng's gradual transition?
- agricultural reforms: profit incentive was provided to the peasants
- foreign reforms: new DFI incentives, special economic zones were created
Stage 2 of Deng's gradual transition?
- permission for chinese people to start municipal businesses
- could use their savings to start businesses
- step towards a free market
Stage 3 of Deng's gradual transition?
- some privatization of SOE's
- banking reform
Name of southern province in China with lots of DFI?
Why was gradual transition more successful in China then Eastern Europe?
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