The phrase is 'socialism with Chinese characteristics', which we in the west call 'capitalism'. Deng Xiaoping was a smart chap. He knew China needed capitalis

The phrase is 'socialism with Chinese characteristics', which we in the west call 'capitalism'. Deng Xiaoping was a smart chap. He knew China needed capitalism, but also knew that after decades of railing against capitalism there was no way the people would support it and no way to implement it without undermining the government, and so 'Socialism with Chinese Characteristics' was born.