A SHANGHAI MODEL?
On Capitalism with Chinese Characteristics
Among those who muster the most righteous indignation against governments that stifle private enterprise are free-market advocates claiming to speak on behalf of the poor. In their works, the poverty of peasants and of rural migrants who eke out a living in the global South’s growing cities is caused by government bureaucrats, who provide privileges for crony capitalists and other favoured elites while smothering the entrepreneurial energies of the less fortunate. Give the poor clearly defined rights to their meagre properties, provide them with opportunities to obtain credit and stop subjecting them to onerous taxes and regulations, and they will not only find entrepreneurial solutions to their own poverty, but they will become a powerful engine for economic development.
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- Yasheng Huang: The Politics of China’s Path Responding to Andreas, Huang Yasheng offers a different chronology for the rural economy’s decline, and stresses the direct impact of political choices made in Beijing on the pace and direction of capitalist development.
- Ho-fung Hung: Paper-Tiger Finance? Hung Ho-fung on Carl Walter and Fraser Howie, Red Capitalism. Two Wall Street China hands assess the PRC’s transition from plan to market.