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This monograph by the Hungarian economist György Szymon Jr. analyzes seven decades of socialist construction in China. With the founding of the People's Republic of China in 1949, the Communist Party of China, which came to power, liberated the country from semi-colonial dependence by uniting its mainland. After completing the agrarian reform that put an end to the remnants of feudalism in the countryside, the Party, under the leadership of Mao Zedong, carried out the collectivization of agriculture and the socialist transformation of industry and commerce, gradually eliminating the economic positions of the bourgeoisie. Despite the excesses of the "Great Leap Forward" and the "Cultural Revolution," the socialist industrialization carried out allowed the CCP led by Deng Xiaoping and his successors to follow since 1978 a path of reform and opening up that transformed China into a powerful superpower with a sizeable domestic market, competing with the United States and offering attractive investment opportunities for foreign capital.