Mao and Markets: The Communist Roots of Chinese Enterprise
As China opened up its economy over the past four decades, conventional wisdom held that the country’s growing embrace of free markets would lead to a more liberal society. Instead, China’s unprecedented economic growth has positioned state capitalism as a durable foil to the orthodoxy of free markets, to the confusion of many in the West. At the 20th Party Congress in Beijing in October 2022, Xi Jinping was appointed to a third five-year term as China’s supreme leader, and many have commented on his renewed embrace of Maoist principles.