The 20th century saw many socialist states run into economic stagnation under strict central planning.
In response, figures like Vladimir Lenin (NEP), Deng Xiaoping (Reform and Opening Up / 改革开放), and Nguyễn Văn Linh (Đổi Mới / renovation) reintroduced market mechanisms to stabilize and grow their economies.
u/Actual-Stand5012 — 17 days ago