Economic Performance during the Reform Period in China and Russia
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The death of Mao Tsetung and the arrest of the ‘Gang of Four’ in the Autumn of 1976 ushered in a period of huge change in China’s political economy. Although important changes occurred in the first two years after Mao’s death, most observers date the beginning of reform as the Third Plenum of the Eleventh Central Committee of the Chinese Communist Party in December 1978. Gorbachev’s election to the position of General Secretary of the Soviet Communist Party in March 1985 raised hopes that serious system reform would begin. However, it was not until the summer of 1986 that the distinctive features of the policy of perestroika could be seen. The subsequent period of ‘reform’, already much longer in China than in the former USSR, produced strikingly different results.
KeywordsHousehold Budget Survey Reform Period Vast Bulk Soviet Citizen Bottom Decile
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