Step 1: Study the two panels:
The THEN panel shows Mao with the Little Red Book, a symbol of the communist ideology. The NOW panel shows Hu in a business suit with a power tie, which the label calls the capitalist red power tie.
Step 2: Change 1: from communism to a market economy:
Under Mao, the state controlled the farms, the factories and prices, and the ideology was communism. From 1978 China began economic reforms and opened up to the market, so the NOW panel shows a capitalist style of working.
Step 3: Change 2: from simple life to wealth and business culture:
The old leader wears a plain uniform and holds a book of ideas. The new leader is well dressed, smiling and rich looking. This shows that China moved from revolutionary austerity to trade, foreign investment, profit and a growing middle class.
Final Answer:
Two changes are: (1) China moved from a communist, state controlled economy to a capitalist, market oriented economy, and (2) the focus moved from the ideology of the Red Book to wealth, business and consumer culture.