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Lessons of the Chinese economic reform, part 1

1st May 1996 Socialist Action 0

First published: May 1996

The most conclusive indictment of the economic policies which have devastated Eastern Europe and the former Soviet Union since 1989 and 1991 is their contrast with the spectacular success of the reform of the world’s second major centrally planned economy – China – a model now being increasingly applied in Vietnam and Cuba. China’s success shows that the suffering inflicted upon the peoples of Eastern Europe and the former USSR, under the guidance of the IMF, was totally unnecessary.