China goes private?
China, in a contentious new law, has given its people additional private property rights and protection of private assets. Many were worried that this eroded fundamental socialist principles, and it can be argued that this moves China further towards becoming a market economy.
China announces new property law BBC News Online (9/3/07)
China passes new law on property BBC News Online (16/3/07)
Questions
| 1. | Examine the implications for the Chinese economy of the new additional property rights. |
| 2. | Discuss the advantages and disadvantages of the new law giving additional private property rights. |
| 3. | Assess the extent to which this moves China closer to being a free market economy. |