“Ten crises: The political economy of China’s development,” by Wen Tiejun

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When the People’s Republic of China was proclaimed in October 1949, the country’s economy was in a shambles, devastated by decades of war and ravaged by inflation triggered by global forces beyond local control. The Communist Party of China and the new revolutionary government faced tremendous challenges in restoring order to rural and urban areas, securing the country’s territory from foreign influence or invasion, and establishing conditions of stability and security within which the people could pursue their livelihoods. The new leadership was dedicated to the long-term goal of developing China into a modern, industrialized, socialist economy, but had to undertake that endeavor in a context of institutional limitations, complex social conditions, and an uncertain geopolitical environment. The CPC had a membership of around 1,000,000 and faced the prospect of guiding the governance and advancing the economy of a population of more than 450,000,000. Seventy years later, China was the second largest economy in the world, had eliminated absolute poverty among its people, and was re-emerging as a significant participant in global economic and political affairs. With nearly 1.4 billion people—and more than half of them living in modern cities, with life expectancy more than double that in 1949, and with education and public health provision at high level global standards—China achieved what the Party characterized as a “moderately prosperous society,” the initial stage of “socialism with Chinese characteristics.” Read the full article here: https://www.liberationschool.org/ten-crises-wen-tiejun/