What’s Left of Communism in China?

Source: The Nation
by Jerome Doyon

“Has the Chinese Communist Party (CCP), 100 this year, become capitalist? Since the introduction of Deng Xiaoping’s economic liberalization reforms 40 years ago, more than 800 million people have been lifted out of poverty and the one-party state now leads the world’s second-largest economy — the largest if calculated in purchasing power parity, with 18 percent of global GDP. The introduction of the market economy and the acceleration of growth have gone hand in hand with an exponential rise in inequality: The Gini coefficient, which measures the extent of inequality, rose by 15 points between 1990 and 2015 (latest available figures). These changes have facilitated growth in the private sector, but the state maintains direct control over large portions of the economy — the public sector accounts for around 30 percent — making China a textbook case of state capitalism. Moreover, the CCP has largely succeeded in co-opting the elites produced by this liberalized economy.” (09/07/21)

https://www.thenation.com/article/world/china-communist-party-capitalism/