Our people are undertaking the historic mission of modernizing our agriculture, industry, national defence and science and technology within the pres… - Deng Xiaoping

According to Marx, socialism, which is the first stage of Communism, covers a very long period. And, during this period, we will try to fulfill the principle “From each according to his ability, to each according to his work.” In other words, we will blend the interests of the individual with the interests of the country. There is no other way to mobilize interest in production among the masses, let’s admit it. And since the capitalist West will be helping us to overcome the backwardness we find ourselves in — the poverty that afflicts us — it doesn’t seem opportune to get caught up in the subtleties. However things go, the positive effects will be greater than the negative effects.

We hold that economic aid to the developing countries must strictly respect the sovereignty of the recipient countries and must not be accompanied by any political or military conditions and the extortion of any special privileges or excessive profits. Loans to the developing countries should be interest-free or low-interest and allow for delayed repayment of capital and interest, or even reduction and cancellation of debts in case of necessity. We are opposed to the exploitation of developing countries by usury or blackmail in the name of aid.

We hold that all countries, big or small, rich or poor, should be equal, and that international economic affairs should be jointly managed by all the countries of the world instead of being monopolized by the one or two superpowers. We support the full right of the developing countries, which comprise the great majority of the world’s population, to take part in all decision-making on international trade, monetary, shipping and other matters.