China Today laws, government and business environment for the investor essays

China Today laws, government and business environment for the investor essays Currently, the China of today has attempted to wrest itself from its Maoist communist path and embark upon a program of sustained economic reform. Legally, "after expressly declaring to adopt a socialist market economy in 1992," the 8th and 9th National People's Congress of China passed "a series of market-oriented laws" so that "consequently a preliminary legal system accommodating to the market economy came into being." (Building China's Market-Oriented Legal System, 2003) In recent history, China has indeed practically and legally attempted to bolster market reforms and enter the capitalist world economy. However, it is important to note that the National's People's Congress that passed the aforementioned resolution was not democratically elected by the Chinese people. China continues to have a government of control and command, politically if not economically speaking. It has attempted to create a nation where political reform is not commensurate with social reform. Perhaps the most powerful symbolic statement of this is that in a resolution was passed that allowed that "the private sector is a complement to the socialist public economy," demonstrators in Tieneman Square were massacred only a year afterward. ("Building China's Market-Oriented Legal Legally, the party administers control China's vast geographic reaches capital, in the form of a single-party system. The party allows free enterprise and private ownership to exist, provided it does not interfere with party activities through democratic initiatives. Legally, private ownership exists, and is protected, but the government remains involved in the economy to protect the communist party's own, uni-party interests. This dual program of economic liberalization and political repression began often known as China's 'one country, two systems' plan in that a Western economy exists next to a communist pol...