Economic System (Zhōngguó de jīngjì zhìdù 中国的经济制度)|Zhōngguó de jīngjì zhìdù 中国的经济制度 (Economic System)
In 1978, two years after the death of Chairman Mao and the end of the Cultural Revolution, Deng Xiaoping disengaged the government monopoly on the country’s economy and began to welcome free markets. These advertising billboards from 1980 were among the first to replace posters with political slogans. PHOTO BY JOAN LEBOLD COHEN.
China abandoned a Soviet-style command economy in favor of a mixed economy late in the twentieth