Bill Gates Quotes
China adopted a capitalist system in the 1980s, and they went from a 60% poverty rate to 10%.
Gates, Bill. "Bill Gates: The Rolling Stone Interview." Interview by Jeff Goodell. Rolling Stone, 27 Mar. 2014.
China was going though a major change of economic structure and national policy, moving to a Western style, capitalist, market economy. This was led by Zhao and Deng. However there were ensconced communist, Marxist idealogues still in place in the government, and a few of them were very vocal about their negative reaction to this abandonment of socialist principles. One economists who was particularly vocal was thus warned and reprimanded by Zhao. He got the message.
Zhou , Deng and other Chinese senior leaders carefully studied failures of 200th Century Communist nation economies from Russia to North Korea, and observed the successes of not only the United States and Western Europe, but South= Korea and Thailand å well and decided to transform to a capitalist style market and competitive economy. Zhou organized a cruse on which they invited Western economists and political economists to advise on how to make the transformation. Th Chinese took many of the Western ideas, placed them into a Chinese context, added some ideas of their own and proceeded ahead with the largest and most seectaculkar economic transformation and development in World history.
William Henry Gates III is an American business magnate, software developer, investor, author, and philanthropist. He is a co-founder of Microsoft Corporation. During his career at Microsoft, Gates held the positions of chairman, chief executive officer (CEO), president and chief software architect, while also being the largest individual shareholder until May 2014. He is considered one of the best known entrepreneurs of the microcomputer revolution of the 1970s and 1980s. Gates is also co-founder and chairman of TerraPower that is developing next generation traveling-wave reactor nuclear power plants, in an effort to tackle climate change.