On transitional economics – Why and how China went capitalist (Part two)
In this second part of Jeppe
Druedahl’s contribution to the
discussion on China, he explains how initially the Chinese bureaucracy,
after the death of Mao, introduced market methods as a means of
stimulating production within a planned economy. However, over time the
capitalist methods began to dominate and the relation between the plan
and the market were overturned. Quantity was transformed into quality,
and capitalism has come to dominate.
