China's open-door policy in development perspective

Abstract

From a development perspective, the author argues that the adoption of the open-door policy signifies that China has moved away from passive towards active participation in the global market economy. Underlying this shift has been a radical strategic change from a socialist de-linking to a socialist re-linking development strategy: re-linking China's socialism with the market mechanism both domestically and internationally. In the strategic reorientation, China's version of socialism as well as its emerging trade and development pattern will be put to the test