... "The third wave" (Toffler), which set out a theory whereby developing countries could miss out industrialisation and move straight to the technological revolution and catch up with developed countries. Therefore the pursuit of new technology became the focal point of reforms in China and the quickest way to introduce new technology to China was to let more advanced countries do it for them.. Apart from granting access to multinational companies, Deng also set in motion plans to cerate incentives for China's own companies to innovate and become more efficient. Small local companies were allowed to sprout and these became the freest. Larger companies considered to be more important by the party, still had to meet their quotas, but they were allowed to produce more if they could, and sell excess stock on the market. Profit became something to be desired not despised. The changes mentioned so far have been limited ...

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