China at the Brink: Class Contradictions of "Market Socialism"—Part II

Abstract

Of all the ideological pronouncements by Deng Xiaoping in advocating "market socialism," the idea that "some must get rich before others" has met with the most unqualified success. The "new wealth" enjoyed by many leading party and state functionaries, military officers, public enterprise managers, and especially business people, both private entrepreneurs and those in semi-privatized ventures, is increasingly apparent. Many of these people can be found in the top hotels and the Pierre Cardin stores, flaunting their cellular phones and beepers, fancy western-style clothes, and air of self-important indulgence so reminiscent of the Chinese elite of the Guomindang period.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.