Friday, March 16, 2007

China Becomes Even More Capitalist

Now property rights will be formally instituted in China, further underlining China's transformation into a capitalist society. Now, the de facto transformation from this new law will of course not be as dramatic as the formal transformation, because property rights were mostly respected even before and it won't be consistently respected even now. But land seizures -a frequent source of rural riots- will be reduced as a result of this new law and the symbolic meaning of a law so obviously contradicting communism still means it is positive change.


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