Reconciling China's Political System with Liberal Market Economics

This paper aims at providing readers with a concise and thorough understanding of the complexities of the Chinese political-economic system. By looking at the development of China’s economy chronologically starting from the late Qing, we develop an account that brings to light the interrelationship between political and economic reforms. We also look at the role competing ideologies have played in economic debates and the leading figures behind them. The 1989 crackdown at Tiananmen Square and its impact on political dialogue is also explored. Furthermore, Tiananmen’s role as the ‘high noon’ of Deng Xiaoping’s economic reforms and as a crucible of ideas for the furtherance of conservative CCP ideology is examined. We also analyse contemporary political trends in the post-Tiananmen era and how the coming to power of Jiang Zemin and Hu Jintao has affected future economic developments. Finally, we illustrate some of the seeming contradictions and anomalies of China’s current economic situation by alluding to prominent contemporary intellectuals.

Reconciling China's Political System with Liberal Market Economics