Chinese Lesson Learned From the Collapse of the USSR

By • on December 31, 2020

The Free News website reported that Zheng Yunnan, Dean of the Institute for contemporary Chinese studies, spoke about Beijing’s main lesson from the collapse of the Soviet Union. The USSR’s tragedy is that it had technical innovations but did not allow market mechanisms to work in the country’s economy, the scientist believes. In his opinion, in the collapse of the Soviet Union, in addition to Gorbachev’s miscalculations, a closed, domestic-oriented development model played the main role. As Yunnan pointed out, China needs to “learn the USSR lessons and adhere to two principles: open innovation and market orientation.”

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