China

Mao led China from after the war until his death in 1976. His government was strictly communist and change came only after he died. When China started to move toward a more free market economy, that is, where individuals could start and own their own business, things changed rapidly. Once again it was proven that getting rid of central government control opens the door to growth. I recall when the government first allowed the free market that everyone felt it was only a matter of time before the communist government fell. The theory was that once you have economic freedom that political freedom would follow but it didn’t happen. 25 years ago the Tiananmen Square situation came up and many thought that was the beginning but the government used tanks and troops and shut it down. This week we see the protestors in the streets of Hong Kong and once again are asking if this is the start of the change away from central government control.