Economic reform in China

Abstract
Since 1978, China has undergone a series of radical economic reforms which officially constitute a logical step in the ‘initial stage of socialism’, and imply a transition from central planning to a mixed economy. The author argues that in fact the transition taking place is from a soviet type of state capitalism towards private capitalism. The rural reforms involve the restoration of pre‐revolutionary production relations, while the urban reforms introduce new capitalists drawn from the ranks of the state administration, to the detriment of the poor and unskilled. There has been a retreat from Marxism as the official ideology, and the legitimacy of the regime is now based on modernisation as a national goal.

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