Black or white cats; socialist or capitalist economies
February 19 is the anniversary of Deng Xiaoping's death. Xinhua used the occasion to remind readers of his legacy.China stays on path of reform, opening-up in post-Deng era
"When most Chinese were fearful even to mention the term 'market economy', the late leader Deng vigorously preached its adoption during his historic 1992 inspection tour to economic enclaves in south China.
"'Practice of a planned economy is not equivalent to socialism because there is also planning under capitalism; Practice of a market economy is not equivalent to capitalism because there are also markets under socialism.' This is one of his most oft-repeated quotes...
"At its 16th National Congress held in Beijing in 2002, the CPC wrote the theory of 'Three Represents' into the party constitution. The theory says that as a ruling party, the CPC will always represent the development trends of advanced productive forces, the orientations of advanced culture and the fundamental interests of the overwhelming majority of the people of China...
"Statistics showed that by September last year, China's private sector accounted for 65 percent of national GDP (gross domestic product), and the figure would reach three quarters in just five years..."
Labels: China economics politics
posted by Ken Wedding @ 9:01 AM
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