In 1975, Saigon, the capital of US-backed South Vietnam, fell to Communist-ruled North Vietnam two years after the withdrawal of the American military which had been in the country for 19 years.
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The reforms that was done the Chinese government after the death of Mao was that, they permitted property and other reforms of the economy, as well as some features of free markets. What they did not allow was extension of political freedoms or democratic rights.
A. Portugal had already built their empire by that time, so really Spain benefited the most from this.
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