China's Swing from a Planned Soviet-Type Economy to an Ingenious Socialist Market Economy: An Account of 50 Years

Abstract

Preserving the direction of the Chinese Communist Party after the death of Mao Zedong, Deng Xiao Ping has lead a process of economic and structural reforms that led China to open to the outside and become one of the impelling forces of globalization. China's admission to the WTO, in 2001, has been a dynamo for the additional domestic adjustments that the market socialist economy of China has been subjected to in the first five years of the 21st century. Is Chinese surviving in a of the economic standardization or is China condemned to move into a market capitalist economy like the others we may question. Or putting in another way are Chinese leaders trying to define a 'sui generis' trajectory between socialism and capitalism? In this case could it be successful? This article analyses the impressive changes that were engrated into the Chinese Economy under the claw of the Third Generatio'n of leaders of the People's Republic of China. The article assay the twenty years since the approval of Deng Xiao Ping's policy of opening to the outside world aproved in December 1978, during the Eleventh Central Committee of the CPC convened in its Third Plenary Session.