The Economic Times News

Wealth quote of the day by the father of modern Chinese economy, Deng Xiaoping: To be rich is glorious...... How Deng transformed China into a superpower challenging U.S. hegemony?

Wealth quote of the day by the father of modern Chinese economy, Deng Xiaoping: Poverty is not socialism. To be rich is glorious. Deng Xiaoping seized power in 1978 amid post-Mao chaos. China's GDP languished at just $150 billion, smaller than Italy's. He launched Reform and Opening Up, dismantling collectives and inviting foreign cash. Special Economic Zones like Shenzhen exploded from fishing villages into megacities, drawing billions in investment with tax perks and open markets. Farm output doubled in five years as families kept surplus profits, spiking rural incomes by 300% in two decades.