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The Birth Of Capitalism In China

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Chapter Summary

During his first campaign for correction of unorthodox tendencies in the Communist Party, in a famous speech pronounced on February 1st 1942, Mao Tzu-tung made the following statement: &t;One hundred years have elapsed since the Opium 'War, yet in regard to the development of Chinese capitalism, no theoretical work which is truly scientific and in accord with the realities of Chinese economic development has been produced.&t; In spite of very favourable conditions-China was technically and scientifically ahead of the West till the Renaissance-the Chinese civilization did not or could not engender capitalism. Were there capitalistic elements, an embryonic capitalism strangled in the womb? Or did such beginnings never exist? If they existed. what hampered them? What are the main reasons of the impediment? Why did the buds never come to a blossom? This chapter tries to give a few tentative answers.

Keywords: Chinese capitalism; Chinese civilization; Chinese economic development; Communist Party; Mao Tzu-tung

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