Four Modernizations
These reforms were a reversal of the Maoist policy of autarky and economic self-reliance. The PRC decided to accelerate the modernization process by stepping up the volume of foreign trade, especially the purchase of machinery from Japan and the West. By participating in such export-led growth, the PRC was able to step up the Four Modernizations by taking advantage of foreign funds, markets, advanced technologies, and management experience. Deng also attracted foreign companies to a series of Special Economic Zones, where capitalist business practices were encouraged.