In January 1980, Chinese leader Deng Xiaoping gathered senior cadres from the upper reaches of the country’s political system to discuss "the present situation and the tasks before us."¹ Just two weeks into the new decade, Deng sensed that the 1980s would be “a dangerous decade” typified by “great turbulence and crises.” But it was also, he exhorted, a “crucial decade” during which he hoped China would lay a strong economic foundation so that the country could achieve “modernization with Chinese characteristics” within 20 years. All of this, he believed, was with one final goal in mind: To build “a modern, powerful socialist country.” While the challenges China would confront were profound, Deng had confidence that the Communist Party of China (CCP) – which he called “great, glorious and correct” – could overcome such obstacles, much as it had done repeatedly since its founding in 1921.

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