Deng Xiaoping’s Economic Paradigm – Thailand Business News

Deng Xiaoping sought advice from Japan and Singapore for economic reforms, but Xi Jinping’s policies have caused economic problems for China.

China’s economic evolution from Deng’s vision to Xi’s divergence

Richard Katz of the Carnegie Council for Ethics in International Affairs discusses Deng Xiaoping’s approach to creating ‘socialism with Japanese and Singaporean characteristics’ and how it led to China’s economic miracle. He also highlights the economic woes caused by Xi Jinping’s abandonment of this paradigm, leading to China’s current economic challenges.

Lessons from Japan

Katz explains how Deng Xiaoping sought advice from Japan and Singapore in the 1970s, drawing from their success stories to reform China’s economy. This included adopting a Japan-style industrial policy and welcoming foreign companies to produce and export their products in China.

Reversal…