Every single decision that was done in management was

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Every single decision that was done in management was made by Chinese communist party members. Deng allowed managers some sort of leeway to make decisions themselves. They weren tabout personel, but they were about what to produce and how much to produce it. With time, these managers became more linked to the bottem line to make profits and bearing responsibility if there were losses. In 1997 2 decades after Deng began this liberalization program, the Chinese communist party made moves to privatize many industries. In some cases, the firms were half owned by the state, and other shares sold to buyers.. A quarter or half. As companies, and managers themselves gained more independence, they gained other kinds of rights of decision making. One of these new rights was who to hire, and who to fire… in addition how uch to pay them. Under Mao, everybody was guaranteed a job (the iron rice bowl). Employees who were not skilled or not working hard now had the risk of being fired. The Chinese communist party has moved toward a market model, with more supply and demand facilitating what happens. The ccp eliminated its control over capital. Deng realized there needed to be some freeing up of funds. Private banks now started.
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Science and technology Military Development of the people’s liberation army to be a technologically advanced army. o Open Door Policy One of the biggest strides the Chinese made was the normalization of the U.S. in 1979. Deng made tour to Texas. Developing friendly relations with the US was a huge part of China’s new open door policty. China made a strategic effort to open up new relations with dozens of other countries. The Japanese normalized relations with China shortly after the US did. Chinese allowed tourism and they let their own to go out to study and live in other places. The goal was that Chinese that went to live other places would bring back their expertise to china. The Chinese recognize the value of allowing foreign investment for overall health and growth. SEZ Special econonomic zones, the Chinese opened up about 20 SEZ by 1986. These SEZ encouraged foreign investments. Some incentive for foreign companies to invest were cheap tax breaks, access to cheap labor. Dormatories were built, etc. Foreign investors flocked; US, Germany, etc. These companies invested not just because of the cheap ununionized labor, but
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