Friday, February 02, 2007

Nail In The Coffin

This is the final nail in the coffin of so called 'socialism' in China. Which of course was not socialism but state capitalism. A form of capitalism that allows the state to act as the capitalist in an underdeveloped society. Now China will be free to have lots of capitalists, and capital, and to further challenge American Hegemony politically, militarily and economically.

China to Pass Landmark Property Law

China's parliament is set to discuss a landmark property law when it meets in March. Beijing is thus one step closer to approving the newest draft version of the legislation, which has been reworked seven times because of its apparent capitalistic penchant which conflicts with China's socialist orientation.

The law to protect private property has been a political hot potato in China where state ownership still dominates key parts of the economy.
Zhang Weiying, dean of Guanghua School of Management at Peking University, said he believes the bill would pass the parliament.

"The parliament will pass the law. That will be a very important signal," he said in a recent interview.

Zhang said passing the bill will "give more confidence" to China's rising entrepreneurs, who are "crucial" for China's economic development.

"When people have security, they will know what they will get. They will be more motivated to work, make more money and invest," he said.

Zhang said a well-adopted property law can be a tool for a value creation and wealth redistribution.


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