ABSTRACT
What does the future hold for market socialism in China? Is market socialism a clever euphemism that has been adopted to cover a transition to capitalism and the privatization of wealth? Or is market socialism a different economic system that the Chinese people will for some time to come find more attractive than the capitalist alternatives? The answers to these questions are of considerable importance to any understanding of public finance and taxation in China, since taxation is the chief structural link between the market economy and the state.
