ABSTRACT
The oligarchic tendency in China's political economy as a result of power-capital nexus has accelerated with alarming speed. China's oligarchic transition from a communist revolutionary regime to blatant self-enriching organized theft, or a kleptocracy, is an important historical event for this country and the world. However, this development is not unprecedented or incomparable from the perspective of political theory. The oligarchic tendency in China's political economy as a result of power-capital nexus has accelerated with alarming speed. The worsening Gini index indicates the polarization of Chinese society. The production of oligarchs and the underclass, oligarchy and pauperism, are two sides of the same coin. As analyzed by Socrates, oligarchy ultimately creates a city of rich and poor. Its dynamic can be attributed to the same socioeconomic and political process. The Gini index regarded as the most popular measure for a country's socioeconomic inequality.
