chapter  10
18 Pages

The People's Republic of China: the party-state, capitalist revolution and new entrepreneurs

The People's Republic of China (PRC) is the only country or economy under examination in this volume that is or has been a communist partystate, with a ruling communist party - the Chinese Communist Party (CCP) - and a state socialist economy. 1 At first sight this might seem to invalidate comparison with the other countries and economies of East and Southeast Asia where, with the exception of Vietnam and North Korea, the new rich have emerged in a predominantly free-market environment, and where political legitimacy rests primarily in a notion of liberal democracy. It is clearly the case that the transformation of state socialism has some features, politically as well as economically, that it does not share with capitalist development in more free-market societies: the continued but changing role of the party-state is the most obvious and probably the most important.