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China's unprecedented generational explosion into the middle class happened only after Deng Xiaoping instituted market reforms. Economically, China is certainly
by bmmayer1 4y ago
China's unprecedented generational explosion into the middle class happened only after Deng Xiaoping instituted market reforms. Economically, China is certainly more socialist than the west, but far more capitalist than it was in the 1970's.
Same with USSR/Russia, post-communism.
- onlyrealcuzzo 4y agoAt least currently, Russia is far below USSR median PPP income, inflation adjusted. Life has gotten worse for the average person in Russia in the last 40 years, not better - by almost every measurable metric. And that's with all the low cost tech they can import - like $20 cell phones and pirated Hollywood movies. If China is on one end of success, Russia is on the other.
- janef0421 4y agoMarket reforms are not intrinsically capitalist.
- bmmayer1 4y agoYes but these were. https://en.wikipedia.org/wiki/Chinese_economic_reform#:~:text=Deng%20created%20a%20series%20of,growth%20for%20the%20national%20economy https://en.wikipedia.org/wiki/Chinese_economic_reform#:~:tex....
- deleted 4y ago[deleted]