supported by the folks, there could possibly be severe implications not just for the implementation of the reform process, but also for social stability. This shift to public ownership reached its peak in 1965. By then, state-owned enterprises accounted for 90.1% of gross industrial manufacturing. It appeared that the aim of public ownership of all industrial enterprises had been virtually achieved. Mao Zedong stated in his The Notes of Political Economy that this ratio was an indicator to indicate the “completeness” of socialism. Under the Maoist line, which
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