21 After Deng, China Privatizes and Globalizes

Lecture 21 After Deng, China Privatizes and Globalizes C hina has made one of the most dramatic transitions in historyfrom a poor, rural society to a modern global economy with a predominantly urban population and a large middle class. How did China make such a miraculous transformation in only a few decades And how has this transformation affected the rest of the world, especially the United States The answers can be found by going back to the time right after the death of Mao Zedong in 1976, when the leadership of Chinas Communist Party made major changes. Deng Xiaoping marginalized and then ousted Maos designated successor, Hua Guofeng, from party leadership. Now, the country would privatize, decentralize, and globalize.