The_Market-Socialist_Economy_Of_China

The Market-Socialist Economy Of China “The planned economy is not tantamount to socialism, because a capitalist country also practices the planned economy; market economy is not tantamount to capitalism because a socialist country also practices the market economy. Both the planned economy and the market economy are economic means. The essence of socialism is to emancipate and develop the productive forces, destroy exploitation, eliminate polarization, and attain common prosperity in the end.” Deng Xiaoping, 1987 The building of the “market-socialist economy” in China, is understood to be one of many great Chinese experiments, a continuation of the “permanent revolution” that Mao upheld. The financial fragilities created by a growing public debt (particularly when one includes the debt owed to state-owned banks by state-owned enterprises), rising unemployment, and the difficulties in maintaining legitimacy based on traditional views of citizenship rights under “socialism” are likely to push the Chinese Communist Party into the arms of corporate patrons (both domestic and foreign). The Chinese leadership has a keen understanding of the strengths and weaknesses of a market-socialist economy, gained over years of experimentation and struggles to maintain economic growth while containing inflation. In a society that has significant centrifugal forces at work, it is considered necessary to keep a greater degree of control over a economy, market, chinese, workers, party, social, communist, enterprises, china’s, work, unemployment, socialism, one, market-socialist, leadership, government, system, state-owned, state, problems, leaders, economic, country, control, because, working, very, take, rising, rather, potentially, planned, over, now