Since the market reforms introduced by Deng Xao Peng in the late 70’s, there has been considerable debate amongst commentators, academics and activists as to whether China still qualifies as a socialist or communist country. In the 90’s this was seen as de facto establishment of capitalism and a road to a democratic transition. More recently, the success of China’s economic model, the sheer pace of urban, industrial and economic development in the country and the crisis of western democracies and economies has raised concerns that China has found a way to combine authoritarian politics and economic growth that could be replicated in other countries round the world.
Given the precedent of the New Economic policy in the USSR in the 1920’s and limited efforts towards monetary incentives and market autonomy in the 1950’s and 1980’s, it is not unheard of for communist parties to embrace market economics. Nikolai Bukharin once told peasants to “enrich yourselves” much to the embarrassment of the Soviet establishment. Karl Marx himself built most of Marxist economic theory based on the classical economics of his time and ultimately supported free trade (admittedly on the grounds that it would bring about the revolution faster).
So what do you think? Is China a socialist country or is it disqualified because of the extent of market economic reforms or the “undemocratic” nature of communist party rule?
Thoughts and comments welcome.
Given the precedent of the New Economic policy in the USSR in the 1920’s and limited efforts towards monetary incentives and market autonomy in the 1950’s and 1980’s, it is not unheard of for communist parties to embrace market economics. Nikolai Bukharin once told peasants to “enrich yourselves” much to the embarrassment of the Soviet establishment. Karl Marx himself built most of Marxist economic theory based on the classical economics of his time and ultimately supported free trade (admittedly on the grounds that it would bring about the revolution faster).
So what do you think? Is China a socialist country or is it disqualified because of the extent of market economic reforms or the “undemocratic” nature of communist party rule?
Thoughts and comments welcome.