New economy of China C.1

This book is, as stated on the cover, a factual narrative, an analysis and interpretation of the economy which is being de veloped in China. Its importance and significance are widely admitted, and there is also a large measure of agreement that, in spite of its limitations and failings, it is a great achievement in the context of existing situation in the world. The book has been written because of the author's belief that the new eco nomy of China needs to be assessed in relation to her history, needs and possibilities and the premises on which its makers are building it are worthy of very serious consideration, even if their validity is not fully accepted. These premises are based upon their Marxian faith but have in practice been used with skill, knowledge and discrimination.

The new economy being 'a democratic dictatorship' has its inherent limiting factors and its political counterpart from the point of view of civil liberties, freedom of press, opinion and association is open to criticism. Efforts are, however, being made to initiate and develop democratic processes within the authoritarian framework; and if world tensions are relaxed, and the People's Republic attains a full sense of security, these processes are likely to be strengthened and re-inforced. China is not only playing an important role in world affairs as an ally of the Soviet Union, but is also a factor of growing import ance in resurgent Asia. Owing to her status the community of the communist countries and her position as a pillar of Asian solidarity, she is bound to realise the need for re-adjust ments from within-re-adjustments which are likely to quicken the pace of democratic processes and make the people, as distinguished from the Party, a more important force in the development of the Chinese economy. The Party would, as it is now, remain the vanguard, but the mass line'-le, the greater regard for and the increasing initiative of the masses would grow in importance. That means that, assuming that world tensions are really reduced,