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Globalization, as with the market economy, therefore does not have one specific class character (either socialist or capitalist) according to the party. [69] The instance that globalization is not fixed in nature, comes from Deng's insistence that China can pursue socialist modernization by incorporating elements of capitalism. [69]
Julan Du and Chenggang Xu analyzed the Chinese model in a 2005 paper to assess whether it represents a type of market socialism or capitalism. They concluded that China's contemporary economic system represents a form of capitalism rather than market socialism because: (1) financial markets exist which permit private share ownership—a feature ...
Socialism with Chinese characteristics is the dialectical unity of the theoretical logic of scientific socialism and the historical logic of China's social development. It's scientific socialism rooted in Chinese realities, reflecting the will of Chinese people, and adapted to the requirements of China and its circumstances.
They conclude that China is neither a form of market socialism nor a stable form of capitalism. [96] The Chinese government maintains that these reforms are actually the primary stage of socialism [97] and the Chinese Communist Party remains nominally dedicated to establishing a socialist society and subsequently developing into full communism ...
China, [h] officially the ... With the budding of capitalism, ... The Chinese constitution states that the PRC "is a socialist state governed by a people's democratic ...
Globalization, as with the market economy, therefore does not have one specific class character (neither socialist nor capitalist) according to the party. [122] The insistence that globalization is not fixed in nature comes from Deng's insistence that China can pursue socialist modernization by incorporating elements of capitalism. [122]
Socialism with Chinese characteristics is the dialectical unity of the theoretical logic of scientific socialism and the historical logic of China’s social development. It is a scientific socialism rooted in China’s soil, one that reflects the aspirations of the Chinese people, and one that is adapted to the conditions of progress in our times.
Deng argued that due to the isolation of China in the international order of the time and an extremely underdeveloped economy, in order for China to achieve socialism and to bridge the gap between China and Western capitalism, China would have to borrow certain market elements and aspects of capitalism into its economy. [16]