Abstract
O n 1 October 1999, the People’s Republic of China celebrated its fiftieth anniversary. Like Mao Tse-tung and Deng Xiaoping before him on similar anniversaries, the party-state leader, Jiang Zemin, waved his hand at tens of thousands of civilians and military personnel as he inspected the grand parade passing through Tiananmen Square. Although, in a certain sense, this highly elaborate and ritualized ceremony conveyed the Chinese Communist Party’s commitment to a socialist regime, the social and economic realities of China have changed significantly during the reform era. What we witness today is widespread commercialization, rapid privatization of state-owned enterprises, largescale labor migration, and increased foreign investment. A popular saying captures the fundamentals of the socioeconomic transformations undergone since Mao’s policies were succeeded by those of Deng and Jiang:
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