by Zhiwu Chen
September 18, 2013
Since reforms started in 1978, China has made commendable progress in achieving capital freedom and individual liberty. China’s gradualist reform approach in which pragmatic economic reforms have been allowed and adopted without correcting the philosophical foundation of the country’s political, economic, and legal system. SOEs, government, and Marxist ideology still dominate the economy, politics, and business—although market forces and private ownership are a significant part of the Chinese society and still on the rise. The lack of a formal rejection of Marxist economics, as well as the lack of political reforms, has internalized forces and contradictions in the Chinese society that have the potential to reverse the many positive achievements of the last 35 years. At a minimum, such forces will continue to make it difficult for the rule of law and for justice and equity to progress further.