China's Political Economy in Modern Times by Deng Kent G.;

Author:Deng, Kent G.;
Language: eng
Format: epub
Publisher: Taylor & Francis Group

State’s deposits

Citizens’ deposits

Under Mao (as 1979)

77.0 (100)

23.0 (100)

Post-Mao (1995)

30.0 (39)

70.0 (304)

Source: Chen, State Assets, p. 92.

Here, to state that Mao’s priority was heavy industry for China’s long-term interest is a lousy defence. In post-war capitalist Germany, Singapore, South Korea and Japan, rapid growth in heavy industry and steady improvement in ordinary people’s material life went hand in hand. Heavy industry and people’s material well-being are not mutually exclusive.

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