Democracy in China: a distant dream

Abstract

Since the late 1970s, China has made enormous efforts to liberalize its markets and integrate itself into the world economy. Yet these developments have not been accompanied by any meaningful degree of liberalization of the political system. This paper attempts to account for the lack of democratization in China. In particular, it reviews the process of gradual economic liberalization initiated under Deng Xiao Ping and discusses the issue of corruption. Economic liberalization, it is shown, has provided new opportunities for the political elite to translate power into wealth, thereby making it more reluctant than ever to relax its grip on power. In a system of “autocratic capitalism,” the ruling elite both in business and government lack the incentives to introduce political liberalization. At this stage, dreams that the country’s economic liberalization will someday lead to democracy remain distant.