On This Day - What happened 16 January 1987 AD

General secretary Hu Yaobang was blamed for taking a soft attitude and mishandling the protests, thus undermining social stability. He was denounced thoroughly by conservatives. Hu was forced to resign as general secretary on 16 January 1987. Then the party began the "Anti-bourgeois liberalization Campaign", taking aim at Hu, political liberalization and Western-inspired ideas in general. The Campaign stopped student protests and tightened the political environment, but Hu remained popular among progressives in the party, intellectuals, and students.

Michel Camdessus is a French economist and administrator who was Managing Director of the International Monetary Fund (IMF) from 16 January 1987 to 14 February 2000. To date, he is the longest-serving Managing Director of the IMF.