The China-British Joint Declaration of 1984 signed when reformist leader Deng Xiaoping was in power, had promised to uphold Hong Kong’s democratic system for fifty years, till 2049, giving time to Hong Kong’s residents, long used to democracy, to adjust to the Communist system. Under the agreement the "capitalist system and way of life" together with a "high degree of autonomy" were to be honoured. Deng had developed the concept of one country two systems, in the 1980s after he opened up the country to the capitalist economy and assured the Chinese that "to get rich is glorious" and with this catchy slogan Deng spurred the country into conspicuous consumption and the rich lifestyle. China under Deng wanted to open up to the world and sent out reassuring signals to Hong Kong, Taiwan and Macau that their way of life will not be disturbed.