The People's Republic of China: The Party-State, Capitalist Revolution and New Entrepreneurs
Despite being communist-ruled, the People's Republic of China has experienced sustained economic development, especially since 1978, which has produced new categories of wealthy power holders. However, unlike in other parts of Southeast Asia, these individuals are found in the emerging business classes rather than in the ranks of the professional middle classes. Executives & managers of various economic sectors are particularly identified as significant new wielders of economic power. There is little evidence to indicate that the new rich represent the development of an independent capitalism, as the state continues to both control the conditions of operation for most enterprises & structure ownership & control in the economy as a whole. As economic growth & development continue, & as capitalist enterprises expand, it is forecast that other categories of new rich will develop & maintain a close relationship with the party-state. D. M. Smith