Formal farewell to Marxism by way of constitutional amendment, it seems.

China endorses private property


Premier Wen called the amendments of "great significance"
China's parliament has agreed landmark changes to the constitution that will protect private property for the first time since the 1949 revolution.
Sunday's endorsement came on the final day of the National People's Congress annual meeting in Beijing.

The BBC's Beijing correspondent says with this vote, China is abandoning one of the key pillars of communism.

The vote to amend the 1982 constitution was passed with 2,863 in favour to 10 against, with 17 abstentions.

Chinese Premier Wen Jiabao said: "These changes to the constitution are of great significance to the development of China."

- http://news.bbc.co.uk/2/hi/asia-pacific/3509850.stm

To sustain and improve the market economy China finally grants (or forced to grant) individuals the constitutional right to possess properties, legally, though the upper limit is not known (?). Have any idea.? The business lobby would get more powerful and would that influence Government's policies on economy as well.?

Edit : Just noticed, there is already one thread on the same topic in World Events sub-forum. Mods are free to delete this thread here if its redundant.

I think this thread is more relevant here, so i'll post here.

The Chinese giving in to private property is not something that should shock us. Really the Chinese have for the past 25 years have abandoned if not destroyed the centralized economic policies of Maoism, and Sovietism. This is merely another step to capitalization, and to prepare for China's ascension into world power within the next two decades. But be under no illusions, China is still "communist" politically speaking. You won't be seeing real democracy there for a long while, or a free press, etc. It's a trade off for the Chinese, they get this massive economic upswing and increasing living standards but in return they support the CCP. Revolution will not happen if the economy is doing well, and the CCP wants that economy to do good so it can stay in power. It's a double edged sword; sing the praises of capitalism, but not democracy.

CCP playing the king and the rich playing the nobles and no democracy. Govt ensures cheap labour. It now seems worse than capitalism.

It now seems worse than capitalism.

No its globalization and the same will be happening to us soon enough.

No, its capitalism, globalisation and capitalism arent the same things. gvts have, when strong enough, always colluded to keep the "workers" in their place. The fact that Globalisation is helping this happen is just conincidence, or lucky timing.

China would not be doing this if it wasn't for Globalization, so yes it is Globalization. Capitalism wouldn't be a factor in China if it wasn't for Globalization so, where does your stance have merit?

Did you know that labor unions are illegal in China? It's a pretty ironic policy for a supposedly communist country.