Word: blushes
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Dates: during 1980-1989
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Capitalism is even showing its first blush in post-Mao China. As part of the Four Modernizations programs, Communist leaders are rehabilitating former capitalist "running dogs." Nearly 5,000 older entrepreneurs have been asked back to become factory managers or advisers. Their confiscated capital has been returned, with interest, and China now has some 100 millionaires in U.S. dollar terms. Hu Qiaomu, the director of the Academy of Social Sciences, admitted in a policy statement in the People's Daily that China has had to adopt such capitalist principles as "the pricing system, the rule of value, and the advantage...
...lodgers. Much of this initial wariness disappeared after hours of conferences and committee meetings, but a good deal of caution remains. "Everybody doesn't agree with the move, but a vast majority feel this is the correct thing to do," says McCue. His counterpart, Allison, adds that "at first blush, our reaction was, 'Look, we're full up. We don't need this.' Later, everyone became persuaded of the logic of the president's case...