China is the fastest-growing economy in the world today. For many
on the left, the Chinese economy seems to provide an alternative
model of development to that of neoliberal globalization. Although
it is a disputed question whether the Chinese economy can be still
described as socialist, there is no doubting the importance for the
global project of socialism of accurately interpreting and soberly
assessing its real prospects.
China and Socialism argues that market reforms in China are
leading inexorably toward a capitalist and foreign-dominated
development path, with enormous social and politcal costs, both
domestically and internationally. The rapid economic growth that
accompanied these market reforms have not been due to efficiency
gains, but rather to deliberate erosion of the infrastructure that
made possible a remarkable degree of equality. The transition to
the market has been based on rising unemployment, intensified
exploitation, declining health and education services, exploding
government debt, and unstable prices.
At the same time, China's economic transformation has
intensified the contradictions of capitalist development in other
countries, especially in East Asia. Far from being a model that is
replicable in other Third World countries, China today is a
reminder of the need for socialism to be built from the grassroots
up, through class struggle and international solidarity.
General
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