Deng Xiaoping led China in the 1978 launch of the "Reform and Opening Up" policy. This policy opened the Chinese economy to foreign investment and trade, integrating market-oriented reforms. It is also known as the "Open Door Policy."
Open Door Policy: This term describes a policy that grants multiple foreign powers access to a nation's markets and resources, typically preventing exclusive control by any single power. In the 1978 context, it signifies a proactive encouragement of foreign investment and trade.