I believe the economic actions of the Chinese government demonstrate its attempt to be mindful of the past, both its pitfalls and its glories. While it won’t be bullied by other nations, the policy of economic decentralization shows it is trying to avoid the catastrophe of one misguided ruler sending the nation down the wrong path. Unbridled capitalism is bursting out all over the country under the slogan of Deng Xiaoping, “Poverty is not socialism. To be rich is glorious.” The ruling Communist Party could therefore justify liberalization of the economy without the political reform that one would expect to accompany it, as the Communists were not about to loosen their grip on power.

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