The Chinese economy has been referred to as "capitialism with Chinese characteristics." The visible capitalist elements in the economy are distinctly Chinese because they are part of a transitional economic process, rather than a system that will be sustained over time. Capitialism is one of the phases that the Chinese economy must undergo before it attains communism, therefore the current policies of the communist party are do not hinder the Chinese leadership from fostering a purely communist economy. In fact, it seems that the capitialist policies are effectively modernizing the Chinese economy. In many cases,the implementation of these policies has resulted in enterprises increasing efficiency in order to avoid backrupcy. The process of maximizing efficiency has involved both material and structural modernization As a result of these changes, output has increased significantly. The modernization and sufficient output will eventually ease the transition to communism. Thus, capitialism functions as a mechanism to create the necessary economic and social conditions for communism.
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