Chinese Modernization: Consequences for the Region

Abstract

Under the leadership of Deng Xio Ping, who as a programmatic reformer opened the Chinas doors for Foreign investment and transfer of technology during the 3rd plenary session of the llth party central committee in December, 1978.The economic reform, involved opening of China's doors to foreign investment and transfer of technology. The initial economic reform strategy shifted from heavy to light industries in order to increase consumer goods for a rapidly expanding population, light industries require less energy and provide more jobs, particularly jobs for export trade to earn die much needed foreign exchange which In turn enabled China to acquire advanced technology.