China's new economic policy made headlines in December 1984 when a leading article in the People's Daily expressed the previously unthinkable opinion that the teachings of Marx and Engels could not be expected to solve all of China's present problems. What have been the main characteristics of...

Western public opinion frequently voices uncritical applause for the economic reforms in the People's Republic of China. The expectation of large sales opportunities in the Chinese market has led to a kind of China-euphoria in certain business circles. This frequently overlooks the fact that...

The private sector in the fields of agriculture, wholesaling and retailing, craft trades and light industry, already well-developed in the People’s Republic of China and a number of Eastern European countries, is now to be given a more significant role in the Soviet Union. Moscow’s economic...