Will China Fail? The Limits and Contradictions of Market Socialism



Fully revised and updated 2nd edition
With the onset of the global economic crisis, China remains one of the only major economies likely to avoid recession. Released in 2007, the first edition of Will China Fail? probed the profound contradictions, tensions, and dysfunctions within Chinese economy and society. This second edition reassesses these imbalances in Chinese political-economy as it negotiates the global financial crisis.
Although China is likely to achieve their target of 8 percent growth in 2009, the GFC has exposed China’s structural weakness in its growth model.
The second edition argues that the Chinese Communist Party are no longer able or willing to pursue further fundamental reforms. Instead, they are stuck in a holding pattern in order to remain in power. Constrained by a decentralized model of authority and administration that is highly corrupt and inefficient, Beijing has only been able to plaster over institutional cracks.
Rather than moving toward a modern, successful civil society as occurred in East Asian countries such as Japan, Taiwan and South Korea, China is walking a more dangerous and unpredictable path.
China’s economic problems are causing troubling developments in Chinese civil society: including the rise of a chauvinistic nationalism encouraged by the CCP, ascent of a new army—the People’s Armed Police—to enforce order, worsening corruption, as well as inequality caused by the CCP’s state-led development model and the crowding out of the fledging domestic private sector.
 

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PM96
ISBN: 1864321708
Published: 2009

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