China to Make Private Property a Right

This is marginally interesting:

Communist China is changing its constitution to embrace the
most basic tenet of capitalism, protecting private property rights for
the first time since the 1949 revolution.
China's parliament is meeting in an annual session starting Friday to
endorse the change, already approved by Communist Party leaders who
tout privatization as a way to continue the country's economic
revolution and help tens of millions of poor Chinese.
It will bring China's legal framework in line with its market-oriented
ambitions by providing a constitutional guarantee for entrepreneurs,
once considered the enemy of communism but now pivotal in generating
jobs and wealth.
"Since private businesses have been playing an increasingly important
role in China's economy, their demand for legitimate protection has
also increased," said Wang Hongling, of the Institute of Economics at
the Chinese Academy of Social Sciences, a government think tank.
"The amendment," he said, "will offer private businessmen a guarantee
to their property safety and make them free of worry."

Posted by flow Frazao on March 2, 2004 at 03:58 PM | Permalink