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You are reading about: crony capitalism

Li Xuewen, February 21, 2017     In the world of Chinese Communist Party propaganda, the image of Deng Xiaoping (邓小平) has been molded into that of the master architect of China’s reform and opening up. He’s said to have helped China through two major transformations: the reform and opening up following the Cultural Revolution, and then the development of a market economy following his Southern Tour in 1992. Thus, in the mythology of the Chinese Communist Party, Deng is the second deity following Mao Zedong (毛泽东). But if we step back, take in a broader historical perspective, and make a rational examination at the twentieth anniversary of Deng’s death (February 19, 1997), it quickly becomes clear that Deng Xiaoping managed to effect only one […]


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