Chinese Capitalism and The Modernist Vision
Chinese Capitalism and the Modernist Vision provides a theoretical explanation of the current transition of the Chinese social formation, the dynamics of that transition, and the implications of the transition for the global political economy.  The text is unique for a number of reasons:  1. The text produces an analysis and critique of the policies of the Communist Party of China (CPC) from within the field of Marxian theory and with a strong grounding in the Marxian debates that have shaped that Party. This theoretical framework allows the reader to better understand the thinking of CPC leaders and specifically locates the Marxian theory that has become prevalent within the CPC as a version of modernist thinking (modernist Marxism). 2. The text argues that the social system created during the so-called Maoist period was a form of state feudalism that lasted from the late 1950s until the relationships of fealty upon which that system was based were dismantled during the reform era in favor of capitalist social relationships. 3. The text presents evidence that the form of capitalism that has come to prevail in China is a version of decentralized state capitalism (with strong indications that private capitalism will eventually displace this state version).  4. The current transition is both driven by a process of decentralization and fragmentation and produces these phenomena in a self-reinforcing dynamic. The rise of local government to greater prominence within the hierarchy of power within China is an important part of the story of transition sketched out in the text and helps the reader to understand how the dynamic of reform has become endogenous (and therefore less likely to be abandoned).
There is no fundamental contradiction between socialism and a market economy. The problem is how to develop the productive forces more effectively. We used to have a planned economy, but our experience over the years has proved that having a totally planned economy hampers the development of the productive forces to a certain extent. If we combine a planned economy with a market economy, we shall be in a better position to liberate the productive forces and speed up economic growth.
-- Deng Xiaoping
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