What are the background, reform orientation and main contents of economic reform in developing countries after 1980s?

Background: The traditional economic development model and strategy have disadvantages, and neo-liberal economic thoughts have been widely spread since 1970s.

Orientation: marketization and internationalization. Adjustment and reform in the direction of market economy means reducing state intervention in the economy, opening wider to the outside world, giving full play to the regulatory role of the market and encouraging private enterprises to operate.

Content: Adjust the economic development strategy, adjust the economic structure, reform the economic management system and adjust the industrial structure.