Imperialism Redefined

A Milestone Documents E-text
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Imperialism Redefined

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Abstract

With the fall of the Berlin Wall and subsequent collapse of the Soviet Union, the decades-old division of the globe into a democratic capitalist “first world,” Communist “second world,” and developing “third world” came to an end. Although the People’s Republic of China remained a single-party Communist state, the market reforms introduced by Deng Xiaopeng beginning in the early 1980s moved the country away from statism and toward greater integration into the global economy. Likewise, the breakup of the Soviet Union and Eastern Europe into new, market-oriented nation-states helped to fuel a booming global financial industry.

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