Teaching Comparative Government and Politics

Friday, July 20, 2018

Communist China Markets

When I began studying about China, it was known in the USA as Red China as opposed to the more friendly Nationalist China (on the island of Taiwan). Later we began calling it Communist China. After Nixon's visit some of us called it the People's Republic of China. Somewhere along the way, Americans began using the simple name China and called "Nationalist China" Taiwan.

Now the Communists in the People's Republic are discussing ways to improve the "business environment." No wonder we don't call it communist or red anymore.

Look for further developments.

China vows to further improve business environment
China will work to tackle the weak areas in its business environment to further improve overall competitiveness and sustain the sound momentum of steady economic performance, the State Council's executive meeting chaired by Premier Li Keqiang decided on Wednesday.

The Chinese government places high importance on improving the country's business environment. Li has urged government authorities to address the top concerns of businesses and tackle institutional deficiencies to cultivate a world-class business environment in China.

"In the face of growing international competition, we must fully appreciate the pressing need for stepping up the reforms of our government's functions, which are crucial for energizing market entities and grassroots initiative and for improving China's overall business environment," Li said at the meeting…

Latest figures from the Ministry of Commerce show that in the first half of this year, 29,591 foreign-invested enterprises were established, up by 96.6 percent year-on-year. According to the 2017 report of the World Bank, China ranked the 78th in ease of doing business, up by 18 spots over 2013. In the revised negative list for foreign investment the Ministry of Commerce issued in June, the number of restrictive items was cut to 48 from 63 in 2017…

"Our efforts in streamlining administration, delegating powers and improving government services boil down to striking a proper balance between the government and the market and truly allowing the market to play a decisive role in allocating resources," Li pointed out. "Instead of redistributing powers among government departments, we should give full respect and delegate due powers to market entities."…

"The market and our people will have final judgment on the success of our efforts to streamline administration." Li said. "A key responsibility of the government is to give timely response to public concerns and faithfully live out our commitment to people-centered development."

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