Abstract
This chapter explores the impact of Deng Xiaoping's market-socialist reforms in the 1980s and their pivotal role in establishing the foundation for China's crony capitalism. It delves into the distinctive role of the princelings in facilitating the transformation of the New Class from a privileged group into a new bourgeoisie.
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Notes
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Ibid., p. 42.
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生活读书新知三联书店香港分店：《走资派就是党内的资产阶级》，1976年（92页）。.
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Ibid., pp. 204–205.
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Ho, W. C. (2013): “The New ‘Comprador Class’: The Re-emergence of Bureaucratic Capitalists in Post-Deng China.” Journal of Contemporary China, 22:83, pp. 812–827. The four infamous companies are: China International Trust and Investment Corporation (CITIC, 1979), China Poly Group Corporation (Poly Group, 1983), China Everbright Group (Everbright, 1983), and Kanghua Development Corporation (Kanghua, 1984).
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Wang, Xizhe: “China’s Bureaucratic Bourgeoisie and the Insights of Chen Yun—An Interview with Yan Huai.” Mingjing News, 07/07/2018. https://www.mingjingnews.com/article/91551-80.
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Ching Cheong: “How the CCP’s Crony Capitalism Came into Being?” HK: ejinsight, 29/05/2014. http://forum.hkej.com/nodel/113277.
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The report titled “China’s Realistic Response and Strategic Choice after the Dramatic Change in the USSR” was drawn up by a group of princelings in the name of the Theory and Ideology Group of the official China Youth Daily, one of the key mouthpieces of the CCP affiliated with the Communist Youth League. The full text of this report was cited by China Spring, No. 1, 1992. http://non-violentes.blogspot.co.uk/2014/06/blog-post.html.
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Luo, Xiaopeng: “The Premier’s Dilemma under the Party’s Heaven.” China-in-Perspective, 24/08/2012. https://chinainperspective.com/default.php?id=16432.
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Shum, D (2021): Red Roulette—An Insider’s Story of Wealth, Power, Corruption and Vengeance in Today’s China. London: Simon & Schuster, p. 171.
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Ibid., p. 283.
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Yue, J (2018): China’s Rise in the Age of Globalization: Myth or Reality? London: Palgrave MacMillan. Chp. 4: From Tiananmen to Shenzhen: Transition to Capitalism, pp. 187–207.
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Wang, Xizhe (2018): 07/07/2018. https://www.mingjingnews.com/article/91551-80.
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Yue, J. (2024). Market Socialism and the Emergence of China’s Crony Capitalism: The Role of the Princelings. In: Crony Comprador Capitalism. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-53154-5_2
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